Kevin Hassett, the chair of the White House Council of Economic Advisers, suggested that Apple's dismal earnings announcement could just be the start for US companies.
Hassett said "a heck of a lot of US companies" would have lower earnings due to President Donald Trump's trade war with China because of the country's economic slowdown.
But Hassett argued that the Chinese slowdown actually put more pressure on China to make a deal with Trump.
Stocks were sharply lower following Apple's...
There is evidence that Chinese policymakers want to resolve the trade war quickly due to the threat that the prolonged dispute poses to China’s already-slowing economy.
Three cargoes of U.S. crude are heading to China from the U.S. Gulf Coast, trade sources said on Monday, the first departures since late September and a 90-day pause in the two countries’ trade war that began last month. The vessels left Galveston, Texas, last month and are scheduled to arrive at Chinese ports between late January and early March, according to shipbrokers and vessel tracking data. The shipments mark a change since Chinese buyers