A professor at M.I.T. on how Xi Jinping is likely to respond to U.S. tariffs and why the standoff won’t weaken the Chinese Communist Party’s grip on power.

President Donald Trump said Thursday that the United States was in talks with China on tariffs, adding that he was confident the world's largest economies could make a deal to

Concern over the economic fallout from US President Donald Trump's global tariffs mounted Wednesday, with Fed Chair Jerome Powell's warning of higher inflation sending stock markets tumbling.

The administration is implementing major shifts in economic policy, and trade is now at the center of it,” Powell said. “These changes are likely to push us further away from our goals.” He explained that the tariffs announced by Trump turned out to be significantly higher than expected — and the economic fallout will likely be just as steep,