President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread 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
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Federal Reserve Chair Jerome Powell said Wednesday that he would not resign if President Donald Trump asked him to.
Asked by Democratic Rep. Maxine Waters, chair of the House Financial Services Committee, "If you get a call from the president today or tomorrow and he said 'I'm firing you. Pack up and it's time to go.' What would you do?"
"Of course I would not do that," Powell said during his testimony.
"I can't hear you," Waters replied, sparking laughter in the room.
"The answer would be 'no,'" Powell said.
"You think the president doesn't have the authority. Is that why you would not leave?" Waters asked.
"The law clearly gives me a four-year term and I fully intend to serve it," Powell replied.
Trump has repeatedly lashed out at Powell for the Fed's interest rate hikes and he has urged the central bank to slash rates, which traders are expecting later this month. The president also blamed Fed policy for undermining his aggressive trade negotiation tactics with China as well as for dampening the economic outlook.
Reports last month said the White House had explored the possibility of "legally demoting" the Fed chief after the central bank tightened monetary policy in December. Trump later said he "didn't ever threaten to demote him" but said he would "be able to do that if [he] wanted."
Powell also said in his testimony that the Fed will "act as appropriate" to sustain expansion as "crosscurrents" are weighing on the economic outlook. He noted business investments across the U.S. have slowed "notably" recently.