Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
The Trump administration plans to delay auto tariffs by up to six months, stopping itself for now from widening global trade disputes, four sources told CNBC.
The White House faces a Saturday deadline to decide whether to slap duties on car and auto part imports over national security concerns. After Saturday, the administration would have another 180 days to come to a decision as long as it is negotiating with its counterparts.
President Donald Trump sees the tariffs as a way to gain leverage over trading partners such as the European Union and Japan during ongoing talks. But the president risks sparking fresh global trade clashes if he goes through with car duties. The European Union, for example, has already prepared a list of retaliatory duties to implement if Trump targets autos.
Stocks gained back their their losses Wednesday following news of the administration's plans, which were confirmed by a source briefed on the talks, an administration official and two foreign officials. Shares of automakers such as Ford and General Motors jumped.
The delay comes as the White House tries to strike a potential trade deal with China to end an escalating conflict. The world's two largest economies increased tariffs on one another in recent days, amplifying a fight that has rattled financial markets and threatened to drag on the global economy.
Trump is mulling whether to use a national security justification to slap tariffs as high as 25% on cars. In February, the Commerce Department delivered a report to the president saying that he could justify duties citing a national security threat. He also used the rationale to put tariffs on steel and aluminum imports.
Lawmakers from both major parties have pushed Trump not to move forward with the auto duties. Republicans and Democrats on Capitol Hill have previously criticized the national security grounds used to imposing duties on goods from allies such as Canada.
U.S. automakers have also opposed the potential tariffs. When the Commerce Department gave Trump its report in February, the industry group Alliance of Automobile Manufacturers said "imposing tariffs on imported vehicles and parts would be a mistake, with significant negative consequences" for the auto industry and its employees.