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
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
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
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
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
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
The cannabidiol droplets you may be adding into your brunch cocktail are not actually legal, former FDA Commissioner Scott Gottlieb warned on CNBC on Friday.
CBD is a compound found in the cannabis plant that's boomed in the retail industry in the past year, with many touting its supposed stress-relieving benefits despite limited evidence. Coffee shops, bars and restaurants have rushed to cash in on adding CBD to foods and beverages. However, the Food and Drug Administration is looking to put a stop to that, citing safety concerns.
"You can't just put it in the food supply," said Gottlieb, who left the FDA in April. "Right now, all the CBD is illegal that's being put into food or dietary supplements."
Gottlieb, a resident fellow at the right-leaning American Enterprise Institute, is also a physician who consults for and invests in biopharmaceutical companies. He joined Pfizer's board of directors earlier this summer.
In Friday's "Squawk Box" interview, Gottlieb said that when it comes to the marketplace, products widely vary on quality, dosing and concentration, so one can never be sure what they're getting. "A lot of it does have high concentrations of THC. When you get CBD online, a lot of times it has high concentrations of THC." Short for tetrahydrocannabinol, THC is the ingredient in marijuana that gives users a high.
Last year, the FDA said it was looking for ways to legalize the sale of CBD oil in food and beverages, a move that would require the agency to outline manufacturing conditions.
In a commentary in The Washington Post last month, Gottlieb wrote that the possible solution in weighing public health concerns and consumer demand could be for the FDA to "approve the sale of some CBD products immediately, while effecting a framework for their safe and proper regulation and a pathway for an enforceable market for these goods."
Gottlieb also pointed out that the drug Epidiolex, made by GW Pharmaceuticals and approved by the FDA in 2018 to treat seizure disorders, is the only legally available purified form of CBD.
The CBD confusion lies in that most cannabidiol products were made legal when President Donald Trump signed the $867 billion farm bill in December. The new law removed industrial hemp from the federal government's list of controlled substances, making it a legitimate agricultural commodity. However, the FDA still prohibits firms from adding CBD to food, drinks and supplements, and from making therapeutic claims about their products.
With all that said, Gottlieb is not entirely against CBD. "I think this is going to be an opportunity going forward," he said. "But we really need to sort out the regulation."
— CNBC's Angelica LaVito contributed to this report.