The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
U.S.-China trade talks may have restarted, but a potential deal is still a long way off, White House trade advisor Peter Navarro told CNBC on Tuesday.
Negotiations between the two economic superpowers over issues including trade deficits, alleged intellectual property theft and forced technology transfers broke down in May. But President Donald Trump and Chinese President Xi Jinping agreed to resume talks — and hold off any new tariffs on each other's goods — at the Group of 20 summit in Osaka, Japan, over the weekend.
"This is a very complicated process," Navarro said on CNBC's "Squawk on the Street" on Tuesday morning.
"We had a deal that was over 150 pages long with seven different chapters" at the time the negotiations flamed out, which is "the basis now for moving further forward," he said.
Treasury Secretary Steven Mnuchin said last week that the U.S. had been "90% of the way" on China. But Navarro cautioned to CNBC that "this will take time, and we want to get it right."
"Let's get it right," Navarro said.
Navarro had joined the president and a coterie of senior officials at the G-20. Trump said Monday that the renewed talks with Beijing have "already begun."
Trump said that China had agreed to buy large amounts of U.S. agricultural products — purchases that Navarro said would be "immediate" and "significant."
Navarro in the CNBC interview also repeatedly talked up a bullish market outlook, and disputed whether U.S. tariffs on foreign imports, including $250 billion worth of Chinese goods, were hurting economic growth.
He predicted that the Dow Jones Industrial Average would be quickly pushed above the 30,000-point mark if the U.S. passes the new trilateral trade deal with Canada and Mexico, and if the Federal Reserve lowers interest rates.
The deal, known as the U.S. Mexico Canada Agreement or USMCA, which faces roadblocks in Congress from Democratic lawmakers, is "the most sophisticated and smartest deal ever written," Navarro said.