The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
"I think (rate cuts) will help, but whether they're going to be sufficient to counter the negative trade pressures and global growth slowdown and impact is debatable," one...Central Banksread more
China has used both monetary and fiscal measures to lift economic activity as its trade war with the U.S. looks set to intensify in the coming months.China Economyread more
Alibaba held a board meeting before its latest quarterly earnings release last week, during which the board decided to postpone the Hong Kong listing, Reuters reported.Technologyread more
President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing a possible sale of...World Politicsread more
The two countries want to smash the civil aerospace duopoly enjoyed by Airbus and Boeing.Aerospace & Defenseread more
Federal Reserve Chairman Jerome Powell is set to deliver his annual speech on Friday at the Jackson Hole, Wyoming symposium, where he's expected to provide more clarity on the...Asia Marketsread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
U.S. and Asian investors poured $3.7 billion into U.K. tech start-ups in the first seven months of 2019, research shows.Technologyread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
Secretary of State Mike Pompeo privately told business executives and free traders that the trade war could end by the 2020 election and that hurdles to an immediate agreement...2020 Electionsread more
The trade deal with Mexico happened quickly because of U.S. tariff threats, President Donald Trump told CNBC on Monday.
The president said the deal came together in just two days because Mexico's leaders knew the alternative would have been worse.
"Tariffs are a beautiful thing when you're the piggy bank," Trump said.
"As soon as I put tariffs on the table, it was done. It took two days," the president told CNBC's Joe Kernen during the telephone interview on "Squawk Box. "
The interview featured Trump riffing on a number of topics, including the continuing trade negotiations with China, his views on the Federal Reserve and the just-announced Raytheon-United Tech merger.
The tense negotiations with Mexico took place as the U.S. already was locked in a tariff battle with China and had placed duties on a number of other imports. Trump has said tariffs are essential to restore economic fairness between the U.S. and its global trading partners.
In the case of Mexico, though, the administration used tariffs to accomplish the political goal of stemming the illegal immigration flow.
"We talked about it for months and months and months and they wouldn't get there, and we said, 'Hey, look, if you don't get there, we're just going to have to charge you hundreds of billions of dollars in taxes," he said.
"If we didn't have tariffs, we wouldn't have a deal with Mexico," he added. "We got everything we wanted and we're going to be a great partner to Mexico now because now they respect us. They didn't even respect us. They couldn't believe how stupid we were with everything that's going on where somebody comes in from Mexico and just walks right into our country and we're powerless to do anything."
The White House had threatened to slap tariffs in Mexican imports if it didn't pledge to help stop the flow of illegal immigrants across the border. In a deal announced late Friday, Trump said Mexico had agreed to follow through on earlier concessions it had made on immigration.
Financial markets had been nervous about the standoff and moved higher Monday morning following the announcement.
In his CNBC interview, Trump said the negotiations will result in a more secure border.
"So we're going to be essentially using to a large extent the very powerful immigration laws of Mexico, and Mexico wants to do a good job," he said. "They're moving 6,000 soldiers to their southern border [with Guatemala]. You think they agreed to do that before?"