Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
China has already taken "all efforts" — including passing a new foreign investment law in March — to address some concerns that the foreign business community complained about, said Wang, the founder and president of Beijing-based think tank, Center for China and Globalization.
The new law prohibits forced transfer of technology from foreign-invested businesses in China and steps up protection of intellectual property, Wang told CNBC's "Squawk Box" on Tuesday. He said that it also gives overseas companies equal footing with domestic players — which addresses "exactly the concerns of the U.S. administration."
"It's unrealistic to change the whole set of laws in China — no country can do that, but we have actually passed a new law," he said. "So, I think there's still grounds to work there to address all the concerns the U.S. may have."
But some analysts have said that the new law — set to be implemented in January next year — doesn't go far enough and may not be sufficient to appease Washington.
Barely two months after the passing of the law, Trump blamed China for backpedaling on some commitments it made during previous negotiations.
The president said Beijing "broke the deal." Washington subsequently raised tariffs on Chinese goods, and U.S. Treasury Secretary Steven Mnuchin later revealed an agreement was "about 90% of the way there" to being finalized.
The trade war has escalated again since then, with both sides slapping punitive tariffs on each other's goods this month — with further levies expected in the coming months. That has led several experts to lower their expectations that the world's two largest economies could reach a deal before the U.S. presidential election in 2020.
Wang said there's now "some fatigue" with the way Trump has "again and again" raised tariffs on Chinese goods, which has made it "awkward" for both sides. But Beijing has always maintained that it's willing to talk, he added, so "it's up to the U.S. to really go ahead and be flexible and not take a really harsh attitude on this."
"We cannot have a perfect deal," said Wang. "You can see that China has continued to open not for the U.S.'s sake and interest, but for China itself."
"I think that for the U.S., they have to see the progress China is making and then probably work on that momentum to push China to be more open, rather than put China into a a hard position."
Several experts have said that the U.S. has raised some valid points about China and its business practices. However, they pointed out that the way the Trump administration is addressing those concerns — such as by airing their criticisms in public and backing China into a corner — may not be effective.
— CNBC's Evelyn Cheng contributed to this report.