May 20, 2018

White House walks back Chinese tariff plans

Steve Mnuchin. Photo by Ryan McBridge/AFP/Getty Images

Treasury Secretary Steve Mnuchin said during an appearance on Fox News Sunday that around $150 billion worth of proposed tariffs on Chinese goods are on hold as the two countries continue trade negotiations to reduce their deficit.

"We're putting the trade war on hold, so right now we have agreed to put the tariffs on hold while we try to execute the framework. ... We have an agreement with China that they're going to substantially agree to it."

The backdrop: His remarks come a day after and Washington and Beijing released a joint statement, which didn't include many details on how exactly both sides would "substantially reduce" the trade imbalance.

Watch video of Mnuchin's remarks:

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Coronavirus updates: Market ends worst week since financial crisis

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The stock market ended its worst week since the financial crisis, prompting the Fed to release a statement. Meanwhile, the WHO warned that countries are losing their chance to contain the novel coronavirus and raised its global risk assessment to "very high" Friday.

The big picture: COVID-19 has killed more than 2,860 people and infected more than 84,000 others in over 60 countries and territories outside the epicenter in mainland China. The number of new cases reported outside China now exceed those inside the country.

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California coronavirus: Latest case has no recent history of international travel

Gov. Gavin Newsom. Photo: Kevork Djansezian/Getty Images

A new case of the novel coronavirus in California was announced on Friday after Gov. Gavin Newsom said Thursday that 33 people had tested positive for the virus, noting the risk to the public remains low.

What's new: An adult woman with chronic health conditions in Santa Clara County who "did not recently travel overseas" or come into contact with anyone known to be ill was confirmed to have contracted the coronavirus on Friday by CDC and California Department of Public Health officials.

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Big video game conference delayed amid coronavirus concerns

Photo: GDC

Next month's Game Developers Conference in San Francisco became the latest tech event to be cancelled or postponed amid growing concerns over the spread of the novel coronavirus.

The big picture: A growing number of events are being scrapped, including Mobile World Congress and Facebook's F8 developer conference. Some, like the giant SXSW event in Austin, insist they are moving forward.