Stocks in the U.S. opened higher Tuesday, reversing pre-market losses after a report in the Wall Street Journal signified that American and Chinese negotiators were preparing to delay the next round of tariffs, scheduled to go into effect Sunday. The Journal cited sources close to the matter on both sides of the table.
Dec. 15 is the date that U.S. tariffs on Chinese imports would increase and hit the consumer electronics industry especially hard. Chinese-made products like Bluetooth headphones, smart watches, and other smart devices have been spared, so far, in the 17-month trade war.
Scheduled tariffs have been delayed in the past as the two sides appeared to show progress in reaching a "phase one" deal, though it has yet to materialize. One of the largest impediments to the deal remains China's refusal to commit to buying more agricultural products and farming equipment from the U.S., according to the Journal. American farmers are considered by the White House to be a key bloc of support for President Trump's re-election.
News that the Dec. 15 deadline could be punted came as President Trump and House Speaker Nancy Pelosi appear to be on the verge of announcing a separate trade deal, known as UMSCA, which would involve just Mexico and Canada, replacing NAFTA. That deal could be announced as soon as this week ー raising the specter of House Democrats handing the president a major policy victory just as they also prepare to impeach him.
Ford Motor laid out some financial expectations and specific growth objectives for its electric vehicle line at an investors' event on Monday. John Lawler, chief financial officer of Ford Motor Co., joined Cheddar News to explain what lies ahead for the automaker.
Teenagers will officially be allowed to open a Venmo account with their parent's permission, the company said Monday, expanding the popular social payments app to an age demographic that is likely to embrace it almost immediately.
Stepping up a feud with Washington over technology and security, China's government on Sunday told users of computer equipment deemed sensitive to stop buying products from the biggest U.S. memory chipmaker, Micron Technology Inc.
Stocks are moving tentatively Monday, as Wall Street waits to see whether a pivotal meeting in the afternoon will help the U.S. government avoid a potentially disastrous default on its debt.
Scores of Boston University students turned their backs on the head of one of Hollywood's biggest studios, and some shouted “pay your writers,” as he gave the school's commencement address Sunday in a stadium where protesters supporting the Hollywood writers' strike picketed outside.
Gov. Ron DeSantis is asking that a federal judge be disqualified from the First Amendment lawsuit filed by Disney against the Florida governor and his appointees, claiming the jurist's prior statements in other cases have raised questions about his impartiality on the state's efforts to take over Disney World's governing body.
Ford CEO Jim Farley says the company will stop competing in over-served market segments and instead will place big bets on connected vehicles and digital services. The days of Ford being all things to all people are over, Farley said at the company's capital markets day event Monday.
