Donald Trump is right—the United States is not in a trade war with China.At least, not yet. As the rhetoric has flown back and forth between Washington and Beijing, breathless news coverage has made it seem as though the war of tariffs has already begun. It has not—hardly any new duties have been levied.
LAST WEEK, THE White House announced plans to levy tariffson up to $60 billion of Chinese imports. The primary, and legal, rationale hinges on the little-used Section 301 of a 1974 trade law that permits retaliation against countries that infringe US intellectual-property rights.
After a year of hemming and fulminating, President Trump finally unleashed the trade war that he had been promising since his campaign — and indeed for years before that. The stock market tanked on the news, and the commentariat exploded, with the bulk of the response negative.
PETER THIEL, NEVER one to keep a low profile, made his most recent set of waves with reports that he is prepared to decamp from Silicon Valley to more benign haunts in Los Angeles along with several of his companies. His rationale, according to a piece in the Wall Street Journal, is that the Valley is
"Dow plunges 391 points as fear grips markets." A headline from two days ago? Try two years ago. Monday, the Dow Jones industrial average was down about 1,600 points, the largest intraday point-drop ever, before ending the day down a mere 1,175 points, or 4.6 percent.
“Dow plunges 391 points as fear grips markets.” A headline from two days ago? Try two years ago. Jan. 15, 2016, to be precise. The last time stocks exhibited the sharp sell-off — followed by an equally sharp run-up — that characterized the past few days. Monday, the Dow Jones industrial average was down about 1,600 points, the largest intraday point-drop ever,
Now that President Trump has declared his asking price for a DACA deal includes $25 billion for a wall, here’s a speech Senate Minority Leader Charles E. Schumer (D-N.Y.) could give at any point in the current debate:
AS IF THERE wasn’t enough angst in the world, what with the Washington soap opera, #MeToo, false nuclear alerts, and a general sense of apprehension, now we also have a growing sense of alarm about how smartphones and their applications are impacting children.
As the Trump administration prepares to take a tougher trade stance on what it sees as unfair Chinese trade policies, China has signaled that it won’t accept such measures lying down, saying it will “resolutely safeguard” its economic interests.
Last week’s repeal of net neutrality regulations by the Federal Communications Commission generated considerable controversy. Many characterized the decision as a win for telecom and cable companies at the expense of both consumers and content companies.
Judging from their flurry of op-eds and tweets denouncing, dismissing or analyzing President Trump’s new National Security Strategy, America’s foreign policy mandarins would have you believe that the document is either dangerous, irrelevant or both. It is neither.
As congressional Republicans prepare to pass their tax bill , the Federal Reserve is about to say goodbye to Janet Yellen as chair. She’s had a good run: The United States and the world recovered from the financial crisis; steady, if unspectacular, growth resumed. Yet now the Fed is in an unusual spot as Jerome Powell takes over.
FROM TIME IMMEMORIAL, rulers have built new cities to satisfy everything from security to vanity. Some of those cities crumbled into obsolescence; others blossomed into capitals of legend. The recipe for success remains elusive, but that hasn’t stopped successive generations from trying. And if recent moves are any gauge
It’s no secret that the People’s Republic of China is nearing completion of a decades-long project to reassert itself as a global force. Whether it’s via the “One Belt, One Road” initiative to spend billions on infrastructure spanning Africa and Asia, its formation of the Asian Infrastructure Investment Bank
The “gig economy” is hardly new, but there’s still a yawning gap between the attention it receives and our understanding of how it is—or isn’t—altering the nature of work in America. It may be a Bay Area joke that everyone is either working in the valley or for Task Rabbit, and Uber may be the world’s most valuable startup,
Growth versus value. For many years, that was one of the central debates for investors, analysts, managers, and financial advisors. Growth and value stocks seemed to be the yin and yang of stock investing, with radically different characteristics that attracted investors with different temperaments.
It’s fashionable these days to compare our present to the Gilded Age: rising inequality, labor struggling while capital thrives, an astonishingly wealthy and concentrated elite appearing to amass an inordinate amount of power. But a stark difference between our era and the last decades of the 19th century is the nature of the American presidency.
In the endless swirl of noise and controversy emanating from Washington these days, it is easy to overlook a more mundane but significant challenge facing the US government: its institutions are getting old. With the exception of the Department of Homeland Security, most substantial agencies are at least decades old and many date back much longer.
THE FINANCIAL INDUSTRY today looks stable and boring, with a few megabanks ever-more entrenched and markets that may not offer the same risks and rewards as before the 2008-2009 financial crisis but which remain highly profitable for incumbents. That stasis, however, masks looming challenges to the sclerotic incumbents. Two such challenges were much in evidence this past week: Bitcoin and China.
During her speech to the National Association of Business Economics on Tuesday, Federal Reserve Chair Janet Yellen made a rather startling admission: The Fed may have “misspecified” its models for inflation and “misjudged” the strength of wages and the job market.
Risk. Mention the word, and many investment professionals pause. Traders, hedge funds, and a few quantitative firms and their algorithms may love risk. But these days, the preponderance of investors, advisors, strategists, and their clients—not to mention the individual investor
In 1973, the late, great historian Arthur Schlesinger published The Imperial Presidency, charting the post-World War II expansion of presidential power and warning that the office had dangerously diverged from the parameters established by the Constitution and subsequent precedent.
FOR YEARS, THE ascent of tech has broadly been viewed as positive, heralding an era of increased productivity and greater communication. But recently, the litany of corporate missteps and a general sense of power accreting to a few extraordinarily rich and powerful companies and the men–yes, largely men–who lead them has triggered a wave of criticisms of the once-Teflon culture of the Valley.
Bitcoin has a total market capitalization of barely $45 billion, which is a pittance compared to hundreds of trillions in stocks, bonds, and other financial instruments worldwide. And yet advisors report that Bitcoin is among investors' most prevalent curiosities today.
BITCOIN: Far or the future? The question has dogged the digital currency since its inception nearly a decade ago, and recent developments raise it anew. Last week, a new variant of bitcoin emerged via a “fork” in its underlying code, threatening to confuse and divide the still-small world of bitcoin adherents.
As the United States commemorates 241 years since the signing of the Declaration of Independence, Americans are not in a celebratory mood. According to most polls, 60% of the country believes that America is on the wrong track; that number is slightly higher among Republicans.
As the wheels of Trumplandia continue to spin, it’s been easy to overlook one glaring reality: Democrats in Congress are doing almost nothing other than finding new and creative ways to resist the Republicans. As a political tactic, that may be smart, but it leaves the public and voters with no clear or viable alternative as attention slowly begins to turn to mid-term elections in 2018.
With the S&P 500 up nearly 10% for the year through mid-June, many investors are nervous about what lies ahead. Even more nerve-wracking is that an outsized portion of the total returns have been generated by just a few stocks.
News that Amazon intends to buy Whole Foods Market for more than $13 billion was greeted jubilantly by financial markets, with Amazon’s stock rising 2.5 percent, almost enough to cover the entire purchase. At the same time, the shares of other grocery retailers, ranging from Kroger’s to Walmart,
Donald Trump’s withdrawal from the Paris Accords is widely attributed to the now-waxing influence of the America First nationalists in the White House, but several days before that announcement, national security adviser H.R. McMaster and director of the National Economic Council Gary Cohn
Can't get enough?
Looking for something specific?
The Latest Tweets by @ZacharyKarabell