What are the risks of a U.S.-China trade war, and can conflict be averted?
CBSN
The quick-fire volley of tariffs between the U.S. and China in recent days has heightened global fears of a new trade war between the world's two largest economies. Yet while experts think the battle is likely to escalate, they also say the early skirmishes offer hope for an agreement on trade and other key issues that could head off a larger conflict.
After the Trump administration's additional 10% levy on Chinese imports took effect Tuesday, China announced a 15% tariff on U.S. coal and liquified natural gas, along with a 10% tariff on crude oil, agricultural machinery and some cars, that is set to kick in Feb. 10. China also put limits on exports of vital minerals used in high-tech products; opened an antitrust probe into Google; and placed two American companies on an "unreliable entities" list — PVH Group, which owns Calvin Klein and Tommy Hilfiger, and Illumina, a biotechnology company with offices in China.
Notably, however, the U.S. opted to hit China with a relatively modest tariff, rather than levies of up to 60%, as President Trump had previously threatened. For its part, Beijing also pulled its punches by targeting less vital U.S. sectors, leaving the door open for the sides to reach a deal.
A Louisiana woman faces a charge of second-degree murder in the killing of a sports reporter found in his hotel in New Orleans during Super Bowl week, the Kenner Police Department said.
At least five Tesla vehicles in Las Vegas were damaged early Tuesday in a "targeted attack" with two vehicles fully engulfed in flames and others shot at with guns, authorities said.
The U.S. Food and Drug Administration will step up its testing for heavy metals in infant formula and review nutrients required in the products used to feed millions of babies, the agency and the U.S. Department of Health and Human Services announced on Tuesday.
Mexico is handing over one of the FBI's Ten Most Wanted Fugitives to the United States after his arrest in Veracruz, officials said.
The Trump administration plans to eliminate a major research body of the Environmental Protection Agency, possibly cutting more than 1,000 employees, according to documents on the government's reduction in force agenda.
Amazon is suing the U.S. Consumer Product Safety Commission over the government agency's order requiring the online retailer to recall hundreds of thousands of potentially hazardous products sold by other sellers on its platform.
Washington — A federal judge on Tuesday found that Elon Musk and the White House's Department of Government Efficiency likely violated the Constitution when they unilaterally acted to shut down the U.S. Agency for International Development.
An Immigration and Customs Enforcement officer provided new details about the Trump administration's deportation flights of alleged gang members, but continued to argue the government had a right to reject a judge's order directing the planes to return to the U.S., even if they were already in the air.
More than 3 million deaths are reported to the Social Security Administration each year. Among them, a small portion — less than 10,000 — are erroneous and need to be corrected, according to the agency.
Washington — Chief Justice John Roberts issued a rare statement Tuesday defending federal judges who have issued decisions against the Trump administration, saying that "impeachment is not an appropriate response to disagreement" with a court's decision.
Chinese electric vehicle maker BYD says its new cars can be charged in almost the same time it takes to refill a gas engine vehicle at the pump, giving the world's top EV seller a major advantage in a highly competitive market.
Washington — More than 24,000 workers at 18 federal agencies who were fired as part of President Trump's efforts to shrink the size of the government are now in the process of being rehired following a federal judge's order last week.
Investors are bailing out of U.S. stocks — big time.