Trump targets China and the Fed, while Dems take aim at Biden

Your guide to how Washington shapes business and the economy

VIEW IN BROWSER | SUBSCRIBE FRI, AUG 02, 2019 CNBC POLITICS EDITOR'S NOTE   Hello readers,   The second round of Democratic debates dominated political headlines this week, as frontrunner Joe Biden came under fire yet again for his record on issues ranging from immigration to health care.   But then President Trump ratcheted up his trade war with China. The president, impatient with Beijing's approach to negotiations, threatened to levy a new 10% tariff on $300 billion in Chinese goods.   His dissatisfaction didn't end with China, though. Trump also laid into Fed Chairman Jerome Powell after the central bank cut rates by 25 basis points. The president didn't think the cut was enough. "What the Market wanted to hear from Jay Powell and the Federal Reserve was that this was the beginning of a lengthy and aggressive rate-cutting cycle which would keep pace with China, The European Union and other countries around the world," he tweeted.   Trump knows he needs to maintain a strong economy heading into November 2020. He also wants to get some trade wins to make his base happy. As the presidential campaign grinds on, the president will likely continue hammering the Fed and China, and often in tandem.    Thanks for reading. Have a great weekend.   Have friends or colleagues who might like this newsletter? They can sign up here. For more on the intersection of business and politics, sign up for the weekly Capital Exchange newsletter here. Mike Calia @Michael_Calia KEY STORIES  Trump's new tariff threat rattles China trade talks The move breaks a truce in the long-running trade war between Washington and Beijing, with investors fearful it could further disrupt global supply chains. Here are the top moments from the second Democratic debate After their showdown during the first round of debates in June, Joe Biden and Kamala Harris came under fire in round two earlier this week. Trump says Fed Chief Powell 'let us down' by not clearly signaling more rate cuts The president was disappointed that Powell did not commit to a more aggressive rate-cutting agenda. In swing state Michigan, 2020 Democrats mostly ignore a key piece of Trump's trade agenda Democrats have spent little time talking about the USMCA, Trump's replacement for NAFTA that has stalled in Congress amid Democratic opposition. US ends Cold War-era nuclear missile pact with Russia The Reagan-era treaty ended after Moscow refused to destroy its new intermediate-range SSC-8 cruise missile that Washington said violated the pact.       Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS