The CBO estimates the US budget deficit may cross the trillion-dollar mark in two years. But if Congress extends the recent tax cuts and spending increases, that number would balloon to $2.1 trillion in a decade.
President Xi Jinping of China said his government will end a 25% tariff on US auto imports. But two American automakers, Ford and General Motors, already make cars in China. Some German automakers with US operations may stand to benefit the most.
Ray Dalio, the founder of Bridgewater Associates, said he’s not sure what President Trump is trying to accomplish with tough talk on China. Bridgewater manages $160 billion, so his words hold significant sway on Wall Street.