Trump heaps another 5% tariff on Chinese goods in latest tit-for-tat escalation
WASHINGTON/BEIJING (Reuters) - U.S. President Donald Trump on Friday lashed back at a new round of Chinese tariffs by heaping an additional 5% duty on some $550 billion in targeted Chinese goods in the latest tit-for-tat trade war escalation by the world's two largest economies.
Explainer: What tools could Trump use to get U.S. firms to quit China?
WASHINGTON (Reuters) - Hours after China announced retaliatory tariffs on U.S. goods on Friday, President Donald Trump ordered U.S. companies to "start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.".
U.S. Steel to idle Indiana plant, 150 jobs at risk
CHICAGO (Reuters) - U.S. Steel said on Friday it will idle a plant in Indiana by mid-November as part of the consolidation of its till mill operations in the United States, a move which could result in lay-offs for nearly 150 employees.
Wall Street Weekahead: Investors look at dollar stores as U.S. recession fears increase
NEW YORK (Reuters) - More investors are watching the shares of discount retailers like Dollar General Corp
and Dollar Tree Inc , which perform better during economic downturns, in the hopes of gauging changes in consumer behavior, though higher tariffs may erode the companies' ability to act as economic bellwethers.
Fed's commitment to act upstaged by Trump's furor
JACKSON HOLE, Wyo. (Reuters) - Federal Reserve Chair Jerome Powell said the central bank would "act as appropriate" to keep the U.S. economy healthy in a deteriorating global economy, but stopped short of committing to rapid-fire rate cuts and drew fire from President Donald Trump.
Fed's Powell vs. Trump: who's got a 'feel' for markets now?
JACKSON HOLE, Wyo. (Reuters) - Donald Trump once accused the Federal Reserve of not having a "feel" for the market and compared Federal Reserve Chair Jerome Powell to a golfer who can't putt, but on Friday it was the U.S. president that drove markets into the rough.
Japan, U.S. reach framework trade pact, no U.S. concessions seen - Nikkei
TOKYO (Reuters) - The United States and Japan have reached the broad framework of a trade agreement, Japan's Nikkei business daily said on Saturday, with Tokyo making concessions on its agriculture but none immediately apparent from Washington on automobiles.
Oil spills into U.S.-China trade war, prices slump
NEW YORK (Reuters) - China said on Friday it would impose tariffs on U.S. crude oil imports for the first time, sending prices down nearly 4% to two-week lows as the escalating bilateral trade war fed worries over a slowdown in global oil demand.
China tariffs on U.S. oil to pressure exports, Gulf Coast prices: traders
HOUSTON (Reuters) - China's threat on Friday to slap a 5% tariff on U.S. oil imports could further soften demand for physical crude at hubs along the U.S. Gulf Coast, where exporters already have taken to shipping crude overseas without firm buyers, traders said.
New EU import curbs on fruit not Canada specific: Canadian minister
OTTAWA (Reuters) - New European Union rules that could block shipments of Canadian cherries and other fruits to the 28-nation grouping apply to all countries and "was not unusual," a senior Canadian official said on Friday.