Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead 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
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Anti-tax crusader Grover Norquist called Friday on President Donald Trump to help out consumers by removing the various tariffs imposed by the U.S.
"Tariffs are taxes," said the founder and president of Americans for Tax Reform. "They're taxes on American consumers and producers who use imported products. We need to get those tariffs down as quickly as we can."
Trump announced Thursday evening a 5% tariff on all Mexican imports, beginning June 10, if Mexico does not take action to "reduce or eliminate the number of illegal aliens" crossing into the U.S.
The president's latest threat comes on the heels of the White House announcing earlier this month tariff rate increases on $200 billion of Chinese goods to 25% from 10%.
"The sooner we can come to an agreement, the more certainty we have, and we can get those taxes off the American consumer," Norquist said on CNBC's "Squawk on the Street."
Norquist has been a vocal critic of trade wars in the past. In a March 2018 interview on CNBC, at a time when Trump was using steel and aluminum tariffs as leverage, Norquist said: "This can get carried away. This is a war of choice like Iraq. Trade wars are wars of choice [that] you didn't have to do."
However, Norquist, a powerful force in conservative politics, is not entirely critical of Trump. When it comes to the president's corporate tax cut, he pointed to the 1980s, when President Ronald Reagan did not get credit for boosting growth with lower taxes.
The U.S. is facing a similar situation now, Norquist told CNBC on Friday. "People know unemployment is down, wages are up, new jobs are being created. Reality trumps all of the rhetoric we're getting."
Norquist's group is known for pushing legislators and political candidates to sign its Taxpayer Protection Pledge, a written promise to oppose any efforts to increase taxes on working Americans and U.S. businesses.