China wants the United States to lift its tariffs as part of a deal. Washington, which is cognizant that the tariffs give it leverage to ensure Beijing follows through on any commitments it makes, is wary of lifting them right away. Trump said last week the United States may leave tariffs on Chinese goods for a “substantial period” to ensure compliance. “Some tariffs will stay,” the second official said. “There’s going to be some give on that, but we’re not going to get rid of all the tariffs. We can’t.” The topic will be addressed in upcoming talks. “Obviously that
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Li also sought on Thursday to ease investors’ concerns over China’s cooling economy, saying Beijing has enough policy tools to fight a “hard battle.” Li said China will cut “real interest rate levels” and lower financing costs for Chinese companies, but did not elaborate on which interest rate he was referring to. Li had made similar comments in a speech earlier this month. Positive changes in China’s economy in March exceeded the government’s expectations, he said. Some analysts say shockingly weak industrial profit data on Wednesday have added urgency for more policy easing. China’s industrial firms posted their worst slump
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Borrowers and buyers awoke to a new normal in housing affordability last week, as mortgage rates dropped to the lowest level in more than a year and are now expected to stay low for a while.
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Michael Reynolds | Getty Images US President Donald J. Trump listens to remarks from Prime Minister of Israel Benjamin Netanyahu (unseen), before signing an order recognizing Golan Heights as Israeli territory, in the Diplomatic Reception Room of the White House Trump signed an order recognizing Golan Heights as Israeli territory. Despite rising concerns about growth this year, the CNBC All-America Economic Survey finds confidence in the economy holding up, dropping from the optimistic heights of last year but maintaining relatively strong levels.
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The high-stakes trade decisions in Washington do not end there. Trump has also accused Europe of unfair trade practices, and sees tariffs on European cars as one means to address them. The move would come with its own political risks. Trump’s tariff policy has sparked more backlash from Republicans on Capitol Hill than just about anything the president has done since he took office. GOP lawmakers have in particular questioned the national security justification the Trump administration used to put duties on steel and aluminum imports last year. A group of lawmakers from both major parties led by Sen. Pat
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German automaker Daimler, the sales leader of Class 8 tractor-trailer semis, is taking a majority ownership stake in U.S. autonomous vehicle technology firm Torc Robotics, Daimler said Friday. Neither company will disclose how much Daimler plans to invest or what percentage of Torc the German company will own. “Torc takes a practical approach to commercialization and offers advanced, road-ready technology, plus years of experience in heavy vehicles,” said Roger Nielsen, CEO of Daimler Trucks North America, in a statement announcing the deal. Torc Robotics is one of several firms developing and road testing technology for autonomous trucks. Embark and self-driving
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The start of a new tax year is the perfect time to spring-clean your finances. Check out these tax changes to see whether you’ll be better or worse off in the year ahead From a state pension rise that will boost retirees’ incomes to a rise in tax for car owners, we list the tax changes that will make a difference to the money you have in your wallet from 6 April onwards. 1 You’re likely to pay less income tax Screen Shot 2019-03-27 at 11.47.45.png From 6 April, most people will pay less income tax. The tax-free personal allowance
Avocado retailer Henry Avocado is recalling California-grown avocados sold in bulk after routine testing showed samples contained Listeria. Both conventional and organic avocados are being recalled. The packages were shipped to Arizona, California, Florida New Hampshire, North Carolina and Wisconsin. A spokesman for Henry Avocado did not immediately respond to a request for comment. The California plant did not begin packing avocados until January 2019, so all products are being recalled. Consumers can identify the products from the “Bravocado” sticker on the conventional avocados. The organic products have “organic” and “California” on the stickers rather than Bravocado. Henry Avocado also
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Top proxy adviser Institutional Shareholder Services on Friday recommended Bristol-Myers Squibb shareholders vote in favor of its bid to buy peer biotechnology company Celgene, according to CNBC’s David Faber. The recommendation from ISS comes just weeks before Bristol-Myers investors will vote on whether to approve the company’s $74 billion bid for Summit, New Jersey-based Celgene. Though recommendations from proxy advisors like ISS do not dictate how investors vote, large passive fund managers like Vanguard and BlackRock often weigh their advice when deciding how to vote their shares. Celgene shares rose more than 7 percent in early trading, while Bristol-Myers dipped
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