Stocks dropped after Donald Trump ordered that U.S. companies find alternatives to their operations in China.US Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
President Trump again rips into Federal Reserve Chairman Jerome Powell, comparing him to Chinese President Xi Jinping.Politicsread more
Powell repeats his pledge to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow.The Fedread more
Trump is meeting with his top trade advisors at the White House amid a slew of tweets that rocked financial markets Friday morning.Marketsread more
The Koch brothers financed one of the most influential political networks in the modern era. The sprawling political empire includes conservative and libertarian nonprofits...Politicsread more
The two American car companies are among the top exporters of U.S.-produced vehicles to China along with BMW and Daimler/Mercedes-Benz, according to industry data obtained by...Autosread more
China says the new tariffs will begin Sept. 1 and Dec. 15. That's when President Trump's latest tariffs on Chinese goods are to take effect.Marketsread more
The dollar fell on Friday following a speech from Federal Reserve Chair Jerome Powell and after President Donald Trump ordered U.S. companies to find alternatives to their...Currenciesread more
On Tuesday, Walmart filed suit against Tesla alleging its solar panels had caused fires in seven of its stores.Technologyread more
Amazon shows numerous listings for toys and medications that lack the proper health risks to children, as well as sleeping mats previously banned by the FDA, according to a...Technologyread more
WASHINGTON – Secretary of State Mike Pompeo on Thursday blamed Iran for attacks earlier in the day on oil tankers in the Gulf of Oman near Iran and the Strait of Hormuz, a vital shipping route through which much of the world's oil passes.
"Iran is lashing out because the regime wants our successful maximum pressure campaign lifted," Pompeo said without citing specific evidence as to why Tehran was responsible. "No economic sanctions entitle the Islamic Republic to attack innocent civilians, disrupt global oil markets and engage in nuclear blackmail."
"The international community condemns Iran's assault on the freedom of navigation and the targeting of innocent civilians," he said, adding that the U.S. will defend its forces, interests and partners.
Oil prices rose as much as 4% on Thursday on renewed fears of conflict in the Middle East after a series of strikes last month. Crude futures briefly jumped back above 3% after Pompeo accused Tehran of being involved in the latest attacks.
The White House said President Donald Trump was briefed on the matter and blamed Tehran for being behind a similar attack on May 12 on four tankers in the same area. Trump wrote in a tweet Thursday that "it is too soon to even think about making a deal" with Iran, saying that "they are not ready, and neither are we!"
Meanwhile, the Pentagon said in a statement that the U.S. Navy's 5th Fleet received two separate distress calls from the oil tankers shortly after the attacks.
"USS Bainbridge was operating in the vicinity and provided immediate assistance to the M/V Kokuka Courageous. Twenty-one mariners from the M/V Kokuka Courageous, who abandoned ship, are currently aboard USS Bainbridge. A Navy P-8 is also providing support," wrote Lt. Col. Earl Brown, spokesman for the U.S. Central Command, in a statement.
Last month, the Pentagon announced it was sending additional U.S. troops, drones and fighter jets to the Middle East amid increasing tensions between the Washington and Tehran. Officials at the Pentagon said they had credible intelligence that Iran and its proxies are planning to attack American forces in Iraq.
"The deployment will include approximately 1,500 U.S. military personnel and consist of a Patriot battalion to defend against missile threats, additional intelligence, surveillance, and reconnaissance aircraft, an engineer element to provide force protection improvements throughout the region and a fighter aircraft squadron to provide additional deterrence and depth to our aviation response options," acting Secretary of Defense Pat Shanahan wrote in a May 24 statement.
The movement of additional U.S. forces to the region is the Trump administration's latest effort to pressure Tehran over its support for weapons proliferation and extremist groups in the Middle East.
Last month, Trump ordered new sanctions placed on Iranian metals, Tehran's largest non-petroleum-related source of export revenue. The U.S. also took aim at Iranian oil by effectively ordering countries worldwide to stop buying Tehran's crude or face sanctions of their own.
Additionally, the U.S. designated Iran's Revolutionary Guard as a terrorist group. Iran responded with threats to close the Strait of Hormuz, where about a third of the world's oil export vessels pass. The U.S. then announced it was expediting the deployment of a carrier strike group equipped with bomber aircraft to the region.
Tehran announced it was relaxing some restrictions on its nuclear program but would not violate a 2015 accord with Russia, China, Britain, France, Germany and the United States. Iran had agreed to the 2015 limits on its disputed nuclear program in return for sanctions relief.
A year ago Trump withdrew the U.S. from the Joint Comprehensive Plan of Action, calling it a "horrible, one-sided" deal.