Trump reportedly said he wanted to pull the US from NATO multiple times last year

U.S. President Donald Trump privately said several times last year that he wanted to withdraw his country from the North Atlantic Treaty Organization, The New York Times reported on Monday. The White House did not immediately respond to CNBC’s request for comment, which was sent outside office hours. As the Times notes, a weakened NATO is thought to be a major geopolitical goal of Russian President Vladimir Putin. Early in his White House tenure, the president withdrew the U.S. from the Paris cl


U.S. President Donald Trump privately said several times last year that he wanted to withdraw his country from the North Atlantic Treaty Organization, The New York Times reported on Monday. The White House did not immediately respond to CNBC’s request for comment, which was sent outside office hours. As the Times notes, a weakened NATO is thought to be a major geopolitical goal of Russian President Vladimir Putin. Early in his White House tenure, the president withdrew the U.S. from the Paris cl
Trump reportedly said he wanted to pull the US from NATO multiple times last year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: nyshka chandran, leah millis
Keywords: news, cnbc, companies, wanted, pull, times, president, nato, report, house, white, organization, trump, reportedly, york, multiple, request


Trump reportedly said he wanted to pull the US from NATO multiple times last year

U.S. President Donald Trump privately said several times last year that he wanted to withdraw his country from the North Atlantic Treaty Organization, The New York Times reported on Monday.

The newspaper’s findings, which cited unnamed senior administration officials, are likely to resurface worries of a breakdown in the military alliance that was created in 1949 by the United States, Canada and some European nations.

Those concerns were first sparked last year when the U.S. leader hinted that he could leave the 29-member defense bloc without Congressional approval. At the time, Trump was pushing member countries to increase spending. Since then, however, the Republican has backtracked on that threat.

After a chaotic NATO meeting in July 2018, Trump claimed that allies had committed to his request and said that U.S. withdrawal from the organization would be “unnecessary.”

Responding to the New York Times’ report, a White House official repeated some of Trump’s remarks from July when the president said Washington’s commitment to NATO is “very strong” and the alliance is “very important.” The White House did not immediately respond to CNBC’s request for comment, which was sent outside office hours.

As the Times notes, a weakened NATO is thought to be a major geopolitical goal of Russian President Vladimir Putin.

Trump’s dislike for participation in international organizations is well known to global leaders by now. Early in his White House tenure, the president withdrew the U.S. from the Paris climate accord and a massive Pacific trade pact.

For more details, see the report from The New York Times.


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: nyshka chandran, leah millis
Keywords: news, cnbc, companies, wanted, pull, times, president, nato, report, house, white, organization, trump, reportedly, york, multiple, request


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Your Netflix habit costs even more than you think

Even as Netflix hikes prices, many people have no idea how much they already pay for the subscription service — or seem to care all that much. On Tuesday, the video streaming and content creation company announced its biggest increase since beginning its streaming service 12 years ago. About 84 percent of consumers in a survey underestimated what they shell out on their subscription services, like Netflix, Spotify and Amazon Prime, according to a report by the Waterstone Management Group, a Chic


Even as Netflix hikes prices, many people have no idea how much they already pay for the subscription service — or seem to care all that much. On Tuesday, the video streaming and content creation company announced its biggest increase since beginning its streaming service 12 years ago. About 84 percent of consumers in a survey underestimated what they shell out on their subscription services, like Netflix, Spotify and Amazon Prime, according to a report by the Waterstone Management Group, a Chic
Your Netflix habit costs even more than you think Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: jessica dickler
Keywords: news, cnbc, companies, subscription, netflix, waterstone, streaming, services, consumers, report, think, survey, price, according, costs, habit


Your Netflix habit costs even more than you think

Even as Netflix hikes prices, many people have no idea how much they already pay for the subscription service — or seem to care all that much.

On Tuesday, the video streaming and content creation company announced its biggest increase since beginning its streaming service 12 years ago. The price boost takes effect immediately.

About 84 percent of consumers in a survey underestimated what they shell out on their subscription services, like Netflix, Spotify and Amazon Prime, according to a report by the Waterstone Management Group, a Chicago-based consulting firm.

On average, consumers already spend more than twice as much as they think they do on those monthly expenses, which includes dating apps, cable television and Wi-Fi: Consumers estimated they spend $111 a month on such services when they actually average $237, Waterstone found in its survey of 2,500 people last year.

And regardless of the price tag, consumers were “happily hooked” on many of their subscriptions, particularly Netflix and Amazon Prime (which had previously raised the price to $119 a year), cable TV and music streaming services, such as Spotify, the report said.

In fact, Netflix’s previous rate increases have had little effect on subscribers, and have traditionally buoyed the stock.

At the same time, families have less slack in their budgets than before, according to research by The Pew Charitable Trusts. Household spending has risen 25 percent or more in the past two decades, even adjusting for inflation, yet incomes have not kept pace, the study said.

In addition, one-quarter of Americans, or roughly 55 million people, have nothing saved in an emergency fund, according to a separate report by Bankrate.com.


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: jessica dickler
Keywords: news, cnbc, companies, subscription, netflix, waterstone, streaming, services, consumers, report, think, survey, price, according, costs, habit


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Slack reportedly had $900 million in cash on hand in October as it prepares to go public this year

Slack has plenty of cash on hand to fuel its reported plans for a direct listing on the public market this year, according to The Information. The company had about $900 million in cash on its balance sheet as of October 2018, according to the report. According to the report, Slack projects it would already be free cash flow positive for the 12 months through January 2020. For the year ended in January 2018, Slack had revenue of $221 million, The Information reported based on early 2018 document


Slack has plenty of cash on hand to fuel its reported plans for a direct listing on the public market this year, according to The Information. The company had about $900 million in cash on its balance sheet as of October 2018, according to the report. According to the report, Slack projects it would already be free cash flow positive for the 12 months through January 2020. For the year ended in January 2018, Slack had revenue of $221 million, The Information reported based on early 2018 document
Slack reportedly had $900 million in cash on hand in October as it prepares to go public this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: lauren feiner, adam galica
Keywords: news, cnbc, companies, hand, prepares, slack, million, reportedly, public, reported, information, 2018, 900, cash, revenue, according, report


Slack reportedly had $900 million in cash on hand in October as it prepares to go public this year

Slack has plenty of cash on hand to fuel its reported plans for a direct listing on the public market this year, according to The Information. The company had about $900 million in cash on its balance sheet as of October 2018, according to the report.

The newly reported numbers show Slack, which makes chatting and collaboration software for businesses, may be in a position of strength to circumvent traditional mechanisms for its public debut. With a direct listing, pursued by Spotify last year, Slack would not need to sell new shares during an initial public offering to raise funds. According to the report, Slack projects it would already be free cash flow positive for the 12 months through January 2020. The Information based its reporting on documents viewed by reporters as well as information from a source familiar with the matter.

For the year ended in January 2018, Slack had revenue of $221 million, The Information reported based on early 2018 documents. Slack projected that revenue to increase by 76 percent to $389 million for the year ending January 2019, and then growing 64 percent to $640 million the year after that, according to the documents.

Slack did not immediately respond to a request for comment.

Slack is expected to join a slew of tech companies preparing to go public in 2019, including Airbnb, Uber and Lyft.

Read the full report on The Information.

Subscribe to CNBC on YouTube.

Watch: In-depth interview with Slack CEO Stewart Butterfield


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: lauren feiner, adam galica
Keywords: news, cnbc, companies, hand, prepares, slack, million, reportedly, public, reported, information, 2018, 900, cash, revenue, according, report


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China is still reportedly dragging its feet in opening its market to Visa, Mastercard

One of the most-touted areas of the so-called opening up of China’s economy remains a challenging market for some foreign giants. But amid ongoing negotiations, not many foreign companies have gotten full access to the massive Asian market yet. On Monday, the Financial Times reported, citing two sources, that the People’s Bank of China has not yet formally acknowledged applications from Visa and Mastercard to process yuan payments. The People’s Bank of China, Visa and Mastercard did not immediat


One of the most-touted areas of the so-called opening up of China’s economy remains a challenging market for some foreign giants. But amid ongoing negotiations, not many foreign companies have gotten full access to the massive Asian market yet. On Monday, the Financial Times reported, citing two sources, that the People’s Bank of China has not yet formally acknowledged applications from Visa and Mastercard to process yuan payments. The People’s Bank of China, Visa and Mastercard did not immediat
China is still reportedly dragging its feet in opening its market to Visa, Mastercard Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: evelyn cheng, jonathan bainbridge
Keywords: news, cnbc, companies, companies, visa, opening, mastercard, payments, china, feet, peoples, foreign, bank, market, reportedly, dragging, report


China is still reportedly dragging its feet in opening its market to Visa, Mastercard

One of the most-touted areas of the so-called opening up of China’s economy remains a challenging market for some foreign giants.

With a flurry of announcements in 2018, Beijing loosened its control on the finance industry in what some called an “unprecedented” way. The moves came as complaints about unequal access for foreign players in the country escalated trade tensions between the U.S. and China. But amid ongoing negotiations, not many foreign companies have gotten full access to the massive Asian market yet.

On Monday, the Financial Times reported, citing two sources, that the People’s Bank of China has not yet formally acknowledged applications from Visa and Mastercard to process yuan payments. The two companies filed the applications more than a year ago, and regulation says once the central bank acknowledges receipt, it must make a decision within 90 days, the FT report said.

The People’s Bank of China, Visa and Mastercard did not immediately respond to a CNBC request for comment.

Approval would let the two U.S.-based companies compete in the local market with China’s Unionpay. The company, which the report says counts the central bank as its largest shareholder, dominates the local market and has expanded overseas, giving it 36 percent of global market share in bank card payments, according to RBR research cited in the FT report. The article noted Visa and Mastercard have 32 percent and 20 percent of the global market, respectively.


Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: evelyn cheng, jonathan bainbridge
Keywords: news, cnbc, companies, companies, visa, opening, mastercard, payments, china, feet, peoples, foreign, bank, market, reportedly, dragging, report


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Sterling pushes higher on report that Brexit date could be delayed

The British pound rose sharply on Friday morning after U.K. Cabinet misters revealed that a delay to the official Brexit date looks increasingly likely. A senior minister told the publication: “The legislative timetable is now very very tight indeed.” Sterling shot higher on the news. It had been trading close to 1.272 against the dollar at 9:00 a.m. London time, but soared to $1.284 by 11:00 a.m. before erasing some of those gains.


The British pound rose sharply on Friday morning after U.K. Cabinet misters revealed that a delay to the official Brexit date looks increasingly likely. A senior minister told the publication: “The legislative timetable is now very very tight indeed.” Sterling shot higher on the news. It had been trading close to 1.272 against the dollar at 9:00 a.m. London time, but soared to $1.284 by 11:00 a.m. before erasing some of those gains.
Sterling pushes higher on report that Brexit date could be delayed Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: matt clinch, david levenson, bloomberg, getty images
Keywords: news, cnbc, companies, trading, delay, uks, pushes, told, date, sterling, uniona, took, higher, delayed, brexit, uk, tight, report, timetable


Sterling pushes higher on report that Brexit date could be delayed

The British pound rose sharply on Friday morning after U.K. Cabinet misters revealed that a delay to the official Brexit date looks increasingly likely.

The U.K.’s Evening Standard newspaper said that key lawmakers believed a delay on the departure date was probable, due to “a backlog of at least six essential bills that must be passed before Britain leaves the European Union.”

A senior minister told the publication: “The legislative timetable is now very very tight indeed.” “Certainly, if there was defeat on Tuesday and it took some time before it got resolved, it’s hard to see how we can get all the legislation through by March 29.”

Sterling shot higher on the news. It had been trading close to 1.272 against the dollar at 9:00 a.m. London time, but soared to $1.284 by 11:00 a.m. before erasing some of those gains.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: matt clinch, david levenson, bloomberg, getty images
Keywords: news, cnbc, companies, trading, delay, uks, pushes, told, date, sterling, uniona, took, higher, delayed, brexit, uk, tight, report, timetable


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Apple reportedly plans to launch three new iPhones this year — including an XR successor

Apple plans to unveil three new iPhone models later this year, including a successor to the XR, The Wall Street Journal reported Friday. The tech giant’s new phones will include new camera features, the WSJ reported, citing people familiar with the situation. The higher-end model will be fitted with a triple rear camera, while the lower-end models will be fitted with a double rear camera, the report said. One will feature a liquid-crystal display (LCD), the display that Apple’s lower-end iPhone


Apple plans to unveil three new iPhone models later this year, including a successor to the XR, The Wall Street Journal reported Friday. The tech giant’s new phones will include new camera features, the WSJ reported, citing people familiar with the situation. The higher-end model will be fitted with a triple rear camera, while the lower-end models will be fitted with a double rear camera, the report said. One will feature a liquid-crystal display (LCD), the display that Apple’s lower-end iPhone
Apple reportedly plans to launch three new iPhones this year — including an XR successor Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: ryan browne, vcg, visual china group, getty images
Keywords: news, cnbc, companies, reportedly, apple, lcd, wsj, revenue, camera, reported, xr, successor, including, iphones, report, launch, plans, rear, iphone


Apple reportedly plans to launch three new iPhones this year — including an XR successor

Apple plans to unveil three new iPhone models later this year, including a successor to the XR, The Wall Street Journal reported Friday.

The tech giant’s new phones will include new camera features, the WSJ reported, citing people familiar with the situation. The higher-end model will be fitted with a triple rear camera, while the lower-end models will be fitted with a double rear camera, the report said.

One will feature a liquid-crystal display (LCD), the display that Apple’s lower-end iPhone XR model currently comes with. The XR has reportedly struggled to win over Chinese consumers. The firm recently lowered its revenue guidance for the first quarter, alarming investors, and cited lower-than-expected iPhone revenue “primarily in Greater China” as one of the main reasons behind its warning.

According to the WSJ, Apple is considering sticking with phones that contain organic light-emitting diode (OLED) displays from 2020, and dropping LCD displays altogether. OLED screens make images appear brighter and sharper than LCD panels.

Apple was not immediately available for comment when contacted by CNBC. Apple shares were 0.1 percent higher in premarket trade Friday.

You can read the full WSJ report here.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: ryan browne, vcg, visual china group, getty images
Keywords: news, cnbc, companies, reportedly, apple, lcd, wsj, revenue, camera, reported, xr, successor, including, iphones, report, launch, plans, rear, iphone


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Here are the top 10 defense contractors in the world

WASHINGTON — American defense firms are the indisputable leaders of the world’s $398 billion arms sales industry, according to a report by the Stockholm International Peace Research Institute, also known as SIPRI. In 2017, weapons sales from the top 100 companies totaled $398.2 billion, a 2.5 percent uptick from 2016 and a third year of growth for the industry. (The total excludes China, due to a lack of available data on which to make a reasonable or consistent estimate,” according to the repor


WASHINGTON — American defense firms are the indisputable leaders of the world’s $398 billion arms sales industry, according to a report by the Stockholm International Peace Research Institute, also known as SIPRI. In 2017, weapons sales from the top 100 companies totaled $398.2 billion, a 2.5 percent uptick from 2016 and a third year of growth for the industry. (The total excludes China, due to a lack of available data on which to make a reasonable or consistent estimate,” according to the repor
Here are the top 10 defense contractors in the world Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: amanda macias, us marine corps photo, sergei malgavko, tass via getty images, thales group, us air force photo, bae systems, andreas freude, bundswehr via getty images, department of defense photo
Keywords: news, cnbc, companies, defense, report, sales, industry, washington, contractors, totaled, billion, according, worlds, weapons, uptick, world


Here are the top 10 defense contractors in the world

WASHINGTON — American defense firms are the indisputable leaders of the world’s $398 billion arms sales industry, according to a report by the Stockholm International Peace Research Institute, also known as SIPRI.

In 2017, weapons sales from the top 100 companies totaled $398.2 billion, a 2.5 percent uptick from 2016 and a third year of growth for the industry. (The total excludes China, due to a lack of available data on which to make a reasonable or consistent estimate,” according to the report.)


Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: amanda macias, us marine corps photo, sergei malgavko, tass via getty images, thales group, us air force photo, bae systems, andreas freude, bundswehr via getty images, department of defense photo
Keywords: news, cnbc, companies, defense, report, sales, industry, washington, contractors, totaled, billion, according, worlds, weapons, uptick, world


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Lawyers for Russian oligarch, Republicans now involved in possible Mueller mystery case: Report

Lawyers from the high-powered firm Alston & Bird have been spotted in recent months at federal court in Washington headed into or out of hearings for the subpoena case, which were closed to the public, CNN reported. The report came a day after The Washington Post reported that the unnamed company in the case is a foreign financial institution. Alston & Bird, whose lawyers did not respond to a request for comment from CNBC, previously represented Russian oligarch Oleg Depripaska, who is known to


Lawyers from the high-powered firm Alston & Bird have been spotted in recent months at federal court in Washington headed into or out of hearings for the subpoena case, which were closed to the public, CNN reported. The report came a day after The Washington Post reported that the unnamed company in the case is a foreign financial institution. Alston & Bird, whose lawyers did not respond to a request for comment from CNBC, previously represented Russian oligarch Oleg Depripaska, who is known to
Lawyers for Russian oligarch, Republicans now involved in possible Mueller mystery case: Report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: dan mangan, tom williams, cq roll call, getty images
Keywords: news, cnbc, companies, oligarch, mystery, court, represented, possible, russian, lawyers, bird, muellers, washington, subpoena, republicans, case, report, company, mueller, involved


Lawyers for Russian oligarch, Republicans now involved in possible Mueller mystery case: Report

A Washington, D.C., law firm that has represented Russian interests and the Republican Party in a fight over Hillary Clinton’s emails now is involved in an effort by a mysterious foreign-owned company to avoid complying with a subpoena believed to be related to special counsel Robert Mueller’s investigation, a report Wednesday said.

Lawyers from the high-powered firm Alston & Bird have been spotted in recent months at federal court in Washington headed into or out of hearings for the subpoena case, which were closed to the public, CNN reported. The report came a day after The Washington Post reported that the unnamed company in the case is a foreign financial institution.

It is not known if Alston & Bird is representing the company, the country that owns it or regulators for the country, according to the story.

Very few documents related to the case are publicly available.

The Supreme Court now is considering whether to let the company continue to challenge lower court rulings that it must comply with a grand jury subpoena that is believed to be connected to Mueller’s probe of Russian interference in the 2016 presidential election.

On Tuesday, the Supreme Court reinstated a federal judge’s order imposing contempt-of-court fines of $50,000 per day on the company for failing to comply with the subpoena’s demand for information.

Alston & Bird, whose lawyers did not respond to a request for comment from CNBC, previously represented Russian oligarch Oleg Depripaska, who is known to have loaned President Donald Trump’s former campaign chief Paul Manafort $10 million. Manafort is awaiting sentencing on criminal charges lodged by Mueller related to his work for pro-Russian politicians in Ukraine.

Alston & Bird also has done legal work for a Russian government contractor, CNN noted.

CNN’s report said that two of the firm’s lawyers, Ted Kang and Brian Boone, in October were seen in court for a hearing in the subpoena case with members of Mueller’s team.

Kang, who previously served as a prosecutor for the criminal division of the Justice Department, has represented “numerous entities and individuals in connection with” Mueller’s investigation, according to his profile page on Alston & Bird’s website.

Alston & Bird in 2016 represented the Republican National Committee in the RNC’s effort to obtain emails from the State Department sent to and from former Secretary of State Clinton and her aides.

The mystery company in the ongoing subpoena fight case, according to court records, has claimed immunity from the subpoena under the Foreign Sovereign Immunities Act. The company also says the subpoena is “unreasonable and oppressive” because it would require the company to violate the law of the country that owns it.


Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: dan mangan, tom williams, cq roll call, getty images
Keywords: news, cnbc, companies, oligarch, mystery, court, represented, possible, russian, lawyers, bird, muellers, washington, subpoena, republicans, case, report, company, mueller, involved


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Venture capital spending hits all-time high in 2018, eclipsing dotcom bubble record

Venture capital just had its highest spending year in history. The amount of money firms spent on private companies hit a new all-time record in 2018— well above the previous watermark from the dotcom boom. Last year, venture capital firms spread roughly $131 billion across 8,949 deals, according to data published by Pitchbook and the National Venture Capital Association Thursday. The previous record was a $100 million total notched in the year 2000. More than 61 percent of total capital investe


Venture capital just had its highest spending year in history. The amount of money firms spent on private companies hit a new all-time record in 2018— well above the previous watermark from the dotcom boom. Last year, venture capital firms spread roughly $131 billion across 8,949 deals, according to data published by Pitchbook and the National Venture Capital Association Thursday. The previous record was a $100 million total notched in the year 2000. More than 61 percent of total capital investe
Venture capital spending hits all-time high in 2018, eclipsing dotcom bubble record Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: kate rooney, gerald french, getty images
Keywords: news, cnbc, companies, high, eclipsing, hits, alltime, dotcom, stanfill, money, spending, previous, record, bubble, total, deals, report, roughly, venture, capital


Venture capital spending hits all-time high in 2018, eclipsing dotcom bubble record

Venture capital just had its highest spending year in history.

The amount of money firms spent on private companies hit a new all-time record in 2018— well above the previous watermark from the dotcom boom.

Last year, venture capital firms spread roughly $131 billion across 8,949 deals, according to data published by Pitchbook and the National Venture Capital Association Thursday. The previous record was a $100 million total notched in the year 2000.

Although the dollar amount jumped by more than 57 percent from $83 billion last year, the number of deals went down. Deal count fell by about 5 percent this year from a roughly 9,400 total last year.

Cameron Stanfill, Pitchbook venture analyst who co-authored the report, said sky-high price tags for start-ups accounted for the new record total despite having fewer deals.

“There is a lot of money competing for a finite amount of companies, and that’s pushing prices up,” Stanfill told CNBC in a phone interview.

More than 61 percent of total capital invested came from deals sized at $50 million or larger. This boosted the average deal size and valuations across every investment stage and series last year, according to the report. But because venture investors are paying so much up front, it’s becoming harder to profit.

“If an investor has to put in more money a into an initial equity investment at a higher valuation, they’ll have to grow that business way more to get the same returns they were used to getting 10 years ago,” Stanfill said.


Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: kate rooney, gerald french, getty images
Keywords: news, cnbc, companies, high, eclipsing, hits, alltime, dotcom, stanfill, money, spending, previous, record, bubble, total, deals, report, roughly, venture, capital


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US trade negotiators will report back to White House before taking their next steps

U.S. trade negotiators said in a statement Wednesday they will report back to the White House for further guidance on trade talks with China moving forward. The statement comes after mid-level trade talks between China and the U.S. concluded. Investors have been watching closely trade developments between China and the U.S. as they assess the skirmish’s impact on corporate profits. The United States officials conveyed President Trump’s commitment to addressing our persistent trade deficit and to


U.S. trade negotiators said in a statement Wednesday they will report back to the White House for further guidance on trade talks with China moving forward. The statement comes after mid-level trade talks between China and the U.S. concluded. Investors have been watching closely trade developments between China and the U.S. as they assess the skirmish’s impact on corporate profits. The United States officials conveyed President Trump’s commitment to addressing our persistent trade deficit and to
US trade negotiators will report back to White House before taking their next steps Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: fred imbert, artyorn ivanov, tass, getty images
Keywords: news, cnbc, companies, house, trade, officials, negotiators, report, structural, taking, white, united, talks, steps, china, states, services, statement


US trade negotiators will report back to White House before taking their next steps

U.S. trade negotiators said in a statement Wednesday they will report back to the White House for further guidance on trade talks with China moving forward.

The statement comes after mid-level trade talks between China and the U.S. concluded. Both countries have been engaged in a trade war since last year, slapping tariffs on billions of dollars worth of each other’s goods.

During the meetings, officials discussed “needed structural changes in China” regarding matters such as cyber theft, intellectual property as well as “China’s pledge to purchase a substantial amount of agricultural, energy, manufactured goods, and other products and services from the United States,” according to the statement.

Investors have been watching closely trade developments between China and the U.S. as they assess the skirmish’s impact on corporate profits. Last week, Apple slashed its fiscal first quarter revenue guidance, citing an unexpected slowdown in China.

Read the full statement below:

On January 7-9, an official delegation from the United States led by Deputy U.S. Trade Representative Jeffrey Gerrish held meetings in Beijing with Chinese officials to discuss ways to achieve fairness, reciprocity, and balance in trade relations between our two countries. The officials also discussed the need for any agreement to provide for complete implementation subject to ongoing verification and effective enforcement. The meetings were held as part of the agreement reached by President Donald J. Trump and President Xi Jinping in Buenos Aires to engage in 90 days of negotiations with a view to achieving needed structural changes in China with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft of trade secrets for commercial purposes, services, and agriculture. The talks also focused on China’s pledge to purchase a substantial amount of agricultural, energy, manufactured goods, and other products and services from the United States. The United States officials conveyed President Trump’s commitment to addressing our persistent trade deficit and to resolving structural issues in order to improve trade between our countries. The delegation will now report back to receive guidance on the next steps.

—CNBC’s Mike Calia contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: fred imbert, artyorn ivanov, tass, getty images
Keywords: news, cnbc, companies, house, trade, officials, negotiators, report, structural, taking, white, united, talks, steps, china, states, services, statement


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