|Bid||1,745.26 x 1000|
|Ask||1,746.00 x 1400|
|Day's Range||1,745.24 - 1,804.90|
|52 Week Range||1,307.00 - 2,050.50|
|Beta (3Y Monthly)||1.58|
|PE Ratio (TTM)||72.59|
|Earnings Date||Oct 23, 2019 - Oct 28, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2,261.27|
AmazonFresh, the retail giant's grocery delivery service, is now available in Phoenix. Amazon.com Inc. (Nasdaq: AMZN) customers who subscribe to its Prime service now can add AmazonFresh to their subscription. Seattle-based Amazon expanded Fresh to Phoenix, as well as Houston and Minneapolis in the past week.
(Bloomberg) -- Walmart Inc. isn’t the only corporation that has seen its Tesla Inc. solar panels catch fire.On Friday, Amazon.com Inc. said a June 2018 blaze on the roof of one of its warehouses in Redlands, California, involved a solar panel system that Tesla’s SolarCity division had installed. The Seattle-based retail giant said by email that it has since taken steps to protect its facilities and has no plans to install more Tesla systems.Tesla also said in a statement it worked with Amazon following the “isolated event” last year that occurred in an inverter at one of the sites. “Tesla worked collaboratively with Amazon to root cause the event and remediate,” it said. “We also performed inspections at the other sites, which confirmed the integrity of the systems,” adding that all 11 Amazon sites are generating energy and are monitored and maintained.News of the Amazon fire comes just three days after Walmart dropped a bombshell lawsuit against Tesla, accusing it of shoddy panel installations that led to fires at more than a half-dozen stores. The claims threaten to further erode Tesla’s solar business at a time when the company is fighting to gain back market share.Walmart and Tesla issued a joint statement late Thursday, saying they were in discussions to resolve their issues. “Both companies want each and every system to operate reliably, efficiently, and safely,” they said. Tesla fell 0.8% in after-hours trading on Friday to $209.75.In the complaint filed Tuesday, Walmart said it had leased or licensed roof space at more than 240 stores to Tesla’s energy unit. Two of the Walmart fires occurred in May 2018. Amazon said it has a very small number of solar systems installed by Tesla.More widely known for its electric cars, Tesla bought panel installer SolarCity three years ago in a $2 billion deal that proved highly controversial. SolarCity’s chief executive officer at the time is the cousin of Tesla CEO Elon Musk, and Musk was the chairman of SolarCity’s board.Also this week, Business Insider reported that Tesla launched an effort to replace a faulty part used in some of its solar panel systems last year. It was unclear whether issues with the component known as a “connector” affected Walmart or Amazon installations.Tesla said in response to the Business Insider story that some connectors manufactured by Amphenol Corp. “experienced failures and disconnections at a higher rate than our standards allow.” Over the past year, the company said, less than 1% of sites with these connectors exhibited abnormal behavior.Amphenol did not respond to a request for comment.(Updates with Tesla’s response in third and fourth paragraphs.)\--With assistance from Brian Eckhouse.To contact the reporters on this story: Dana Hull in San Francisco at email@example.com;Matt Day in Seattle at firstname.lastname@example.orgTo contact the editors responsible for this story: Lynn Doan at email@example.com, Kara WetzelFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
As the Democratic presidential candidates argue about “Medicare for All” versus a “public option,” two simple policy changes could slash U.S. health-care costs by 75% while increasing access and improving the quality of care. If they were rolled out nationally, the United States would save $2.4 trillion per year across individuals, businesses, and the government. The first policy—price tags—is a necessary prerequisite for competition and efficiency.
(Bloomberg Opinion) -- The world’s biggest tropical forest is back in the headlines, for all the wrong reasons. Leonardo DiCaprio and Madonna are worried. NASA and Amnesty International are tracking the ruin. French President Emmanuel Macron vowed to make the Amazon emergency a priority during the meeting of the G-7 countries in Biarritz and threatened to block the recently signed trade pact between the European Union and South America’s Mercosur countries because of Brazil’s dereliction of duty in the Amazon.What’s mostly missing from this grim tableau are broader explanations of why destruction is rising and how to get a grip. The default has been to round up the usual rainforest suspects: Bootleg loggers, rogue ranchers, pick-and-pan gold miners. That’s partially true. “A lot of the command-and-control measures that limited forest clearing and burning development in the Amazon are weaker now,” said Daniel Nepstad, a rainforest expert and president of the Earth Innovation Institute. “And with official eyes off the Amazon, rural property owners feel empowered to move forward, clear and burn.” Yet a strategy of demonizing instead of assisting farmers and ranchers misses the bigger picture and forsakes potentially valuable allies in preserving the South American frontier.Why the Amazon Is on FireBrazilian environmental policy is a rainforest of rules and red lines. Amazon property holders must leave 80% of their land untouched. Even on the remaining 20%, deforesting without a permit is illegal. Violators pay stiff fines (around $1,200 per hectare), land in jail or do both. Obtaining environmental permits to develop rural property is a vexing, months-long process that is onerous for big landowners, let alone capital-starved smallholders.While there is every reason to treat offenders severely, saving the rainforest requires doing more. To curb deforestation, honor the ambitious pledge to slash climate-cooking greenhouse gases more than a third from 2005 levels by 2030, and comply with the green clauses of the nascent Mercosur trade deal with the European Union, Brazil should plant more carrots, not wave more sticks.That means treating farmers and, yes, cattle ranchers more as Amazon stakeholders than aspredators. Low-tech herders are some of the most formidable threshing machines in the tropics. They graze their cattle on scraggly pasture then move on when that land is spent, slashing and burning deeper into the forest. That routine is one reason the Amazon has an area twice the size of Portugal (200,000 square kilometers) of degraded or failing pasture. In many cases, penury is the driver of villainy.Research in the western Amazonian state of Acre shows that employing the right tools can curb and even reverse the destructive spiral. Herders who shift cattle around a property, protect pastures with fruit trees, and plant hardier forage that shields the ground from the withering sun and traps soil-nourishing nitrogen have multiplied their herds without cutting more trees. Where most Amazonian farmers graze just one cow per hectare, Acre’s best farms now raise three or four. Agronomist Judson Valentim, Acre station chief for the Brazilian pastoral research company Embrapa, found that adopting such techniques plus modest subsidies of just $12 per hectare can do what heavy fines and penalties cannot: encourage herders to restore their fields. Restored pastures lead to less new deforestation. Merely keeping better track of costs, say weed control or vaccinations, also leads to healthier farms: adding 17 hectares of restored field for each check-listed ranch item.There’s also a close parallel between poverty and predatory ranching. Poorer, less-educated herders, enjoying little access to credit and working farthest from city and market hubs, tend the worst farms. Even as heavy fines may scare big landholders into compliance with environmental law, they reap little but resentment and furtive forest-cutting among smallholders. It’s little wonder that small farmers and settlers in land reform projects are some of the main drivers of deforestation.Sustainable development is beautiful, but expensive. It’s much easier for rural landowners in Amazonia to obtain a license to clear their land than to secure permits for sustainable logging. Just hiring experts to carry out the forestry inventory for prospective logging on a midsized property can cost up to $50,000, Valentim said. The tangle of rules is confusing, costly and counterproductive. “Does it make sense to tie farmers in knots?” asks Nepstad. “We need ways to make them more efficient, less inclined to burn and more inclined to put out fires.”Such barriers may explain why many Brazilian farmers put so little stock in preservation, and threw their support to Bolsonaro and his blazing saddle frontier agenda. “Take the money and reforest Germany,” he quipped, after the German government, followed by Norway, froze tens of millions of dollars in conservation aid due to the surge in forest clearing. Never mind that Bolsonaro on Friday ordered the armed forces to combat Amazon fires, so confirming the emergency he so vehemently denied.Slash-and-burn diplomacy may feed the partisan hearth, but it’s reckless economics. Trade partners are increasingly reluctant to import goods from bad environmental stewards. “As an exporter, I tell you things are getting tough,” Brazil’s biggest individual soybean producer and former agriculture minister Blairo Maggi recently told the Brazilian paper Valor, taking issue with Bolsonaro’s strident rhetoric. Amazon farmers need help, not hubris.To contact the author of this story: Mac Margolis at firstname.lastname@example.orgTo contact the editor responsible for this story: James Gibney at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Mac Margolis is a Bloomberg Opinion columnist covering Latin and South America. He was a reporter for Newsweek and is the author of “The Last New World: The Conquest of the Amazon Frontier.”For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
PayPal takes on India’s digital payments market as it looks to international markets for growth. India presents a $1.0 trillion opportunity for the company.
Each of the four Big Tech companies under investigation, to varying degrees, faces exposure to antitrust charges. Their vulnerabilities reflect their marketing strengths, from Apple Inc.’s money-minting App Store to Facebook Inc.’s vice-like grip on social media through its acquisition of WhatsApp.
(Bloomberg) -- As Europeans threaten to block access to Brazilian exports over President Jair Bolsonaro’s environmental policies, some of the agribusiness players loyal to the former Army captain are starting to fret about the consequences of his rhetoric.French President Emmanuel Macron issued the most explicit ultimatum yet to Brazilian commercial interests on Friday, stating that France would oppose the trade deal between the European Union and Mercosur, the South American customs union, in retaliation to Bolsonaro’s hostility to tackling climate change. While ratification of the deal is still a long way away -- and German Chancellor Angela Merkel does not share Macron’s position -- Brazilian exporters are uneasy.“You’re starting to see an expression, a movement of people who represent the sector, and it doesn’t seem like just a hypothetical threat,” Rubens Ricupero, former finance minister and former secretary-general of the U.N. Conference on Trade and Development said. “These are people who have a sensitivity to exports, not a sensitivity for the environment.”Unswerving defense of farmers in Brazil’s heartland along with a pledge to slash environmental regulations to unlock the Amazon’s productive potential helped lift Bolsonaro to the presidency. With the world’s largest rainforest ablaze, prominent representatives of the sector are sounding the alarm, saying farmers’ hard-won reputation for sustainability is in jeopardy and, in turn, their exports to conscientious consumers. Among lower-house lawmakers from the farm caucus surveyed by Ibope this month, 80% think illegal deforestation is already hurting Brazil’s image and business.Finland, which currently holds the presidency of the EU, even raised the idea of banning Brazilian meat imports on Friday in response to Bolsonaro’s lax stewardship of the Amazon.The European Union ranks second only to China as the final destination of Brazil’s agriculture exports, and accounted for 16% of the shipments in 2018. Brazil exported $13.6 billion in agricultural products to the region last year.Speaking OutRoberto Brant, the agriculture confederation’s president and a former lawmaker, called on producers to loudly counter Bolsonaro’s damaging statements. And Senator Katia Abreu, a former agriculture minister, said she’s very afraid Brazil will lose European markets. “Farmers are being deceived,” she told Estado de S. Paulo. “They may be happy today, and they will be crying tomorrow.”Soybean traders signed the Brazilian Soy Moratorium in 2006, pledging not to buy soybeans from deforested areas. But some exporters believe Bolsonaro’s decision to blame NGOs for the fires in the rainforest may lead importers to require certifications to import Brazil’s soy products if the situation over the Amazon deteriorates, according to an industry representative speaking on condition of anonymity. Some buyers may prefer purchasing soy-meal from rivals Argentina and U.S, the person added.On Thursday night, the soybean processors group Abiove said in a statement it’s “cautiously following” recent statements on preserving the Amazon. It also reiterated its commitment to the environmental agenda, adding that its companies don’t acquire or finance soy from farms where deforestation has been detected.One meat executive said in an interview that, while agribusiness may be disappointed by Bolsonaro’s attacks on Macron and joking demands that Merkel should “reforest Germany”, producers are happy with his policies and the European Union doesn’t need deforestation as an excuse if it wants to cut imports.Other producers mimic Bolsonaro’s defiance in the face of foreign consternation, as well as his disdain for environmental NGOs.“Bolsonaro’s comments are only controversial for people who don’t know Brazil,” Bartolomeu Braz Pereira, head of soybean farmers group Aprosoja, said in an interview. “Bolsonaro is pulling back the curtains and presenting Brazil how it really is. We had international NGOs imposing the rules, and that isn’t right. After deforesting their lands, they want to tell us how we should protect ours?”Fire StartersSmall-scale producers are feeling emboldened to set fires to recover their fields, less because of Bolsonaro’s bluster than because regulators were completely debilitated in recent years during Brazil’s fiscal crisis, according to Moises Fernandes, an agronomist and environmental consultant in the Amazon state of Rondonia. The fact Bolsonaro keeps speaking out, however, means blame is fully ascribed to him.“As he’s head of state, logically when he talks any country that already wants to apply commercial sanctions to Brazil can cite that as a factor,” said Fernandes, who voted for Bolsonaro. “The truth is he talks too much: saying you can save the environment by pooping every other day, ordering Angela Merkel to plant trees. Why? Why is he wearing himself out?”\--With assistance from Simone Iglesias.To contact the reporters on this story: David Biller in Rio de Janeiro at firstname.lastname@example.org;Tatiana Freitas in São Paulo at email@example.com;Fabiana Batista in Sao Paulo at firstname.lastname@example.orgTo contact the editors responsible for this story: Juan Pablo Spinetto at email@example.com, Bruce Douglas, James AttwoodFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Emmanuel Macron has gone off script.It took the French president less than 24 hours to wrong foot his closest partners and toss a curve ball into the buildup to the Group of Seven summit. His fellow leaders hadn’t even landed. And all this when Macron was supposed to be shoring up the European alliance for another confrontation with Donald Trump.When the summit begins Saturday in the French beach resort of Biarritz, the European contingent is supposed to be holding the line over Brexit, pushing for tougher action on climate change and addressing the trade tensions threatening global growth without provoking the U.S. leader. Now they are going to be distracted by a rift between Macron and Germany’s Angela Merkel over how to tackle the environmental threat posed by Brazil.For Macron, for the European Union, and for the transatlantic relationship, the consequences could be far-reaching.Preparations for the summit began to unravel on Thursday evening as Biarritz was about to go into lockdown. The strip of sand that will provide the backdrop for the family photo was still crammed with bathers taking their last swim. Even Macron’s close advisers had no idea about the bombshell the president (who is not a regular tweeter like Trump) was about to drop.Alarmed by the record number of fires ravaging the Amazon jungle, Macron announced that the “emergency” would be a central focus of his summit, abandoning months of careful choreography that even involves France’s most celebrated chef preparing meat for Trump and vegetarian fare for special guest Narendra Modi.Problem was he didn’t seem to have let key players in on his decision. Within two hours, his call to arms was met with a furious response from Brazilian President Jair Bolsonaro, who accused Macron of colonial posturing. Affairs relating to Brazil should not be discussed without Brazil at the table, Bolsonaro said.Read more: The Amazon Rainforest Is on Fire, and It’s Getting WorseMacron’s critics on social media pointed out that he’d used an outdated picture of an older blaze.Officials in the G-7 clan were waking up to the news along with the rest of the world. Concern about the environment is something shared by many Europeans, and the sense from officials was that they were willing to accept having the burning of the rainforest thrust onto the agenda at the last moment.A slow drip of benign responses began to come in. A spokesman for the U.K.’s Boris Johnson said the British leader would echo his call for action on the Amazon. Merkel’s spokesman backed Macron’s decision to involve the international community, siding with him against Bolsonaro.Trump, meanwhile, exchanged attacks with Beijing over trade. Markets tumbled as the president said he’d “ordered” the U.S. to disengage from China. But rather than seeking to capitalize, the French leader upped the ante.Another ShockerMaybe he took offense at the colonialist jibe, maybe it was headlines from Brazilian officials bringing up forest fires in Portugal and Siberia. Whatever it was, Macron had another shocker up his sleeve.In a terse statement from the Elysee palace, he branded Bolsonaro a liar and vowed to block the EU’s trade deal with South America’s biggest economies unless Brazil takes its environmental obligations seriously.Tearing up a summit agenda is one thing. But this was a whole other order of magnitude.The EU’s trade accord with Mercosur has been 20 years in the making, will ease tariffs on some $90 billion of annual commerce, and was Europe’s biggest riposte to Trump’s assault on the multilateral trading order. Spanish Prime Minister Pedro Sanchez, invited to the summit as Macron’s special guest, is set to be one of the biggest winners from the deal and invested time and political capital to get it over the line just eight weeks ago. Sanchez had no warning the announcement was coming, according to an official.In the OpenThe public slapdown in the end came from Merkel.Her spokesman told Bloomberg that the chancellor doesn’t believe shooting down the trade deal will achieve Macron’s aim of slowing deforestation in Brazil and actually contains binding commitments on climate protection. She doesn’t think threatening to block the accord is an appropriate response to what is happening in Brazil, he added.After Macron’s political maneuvering over talks with Washington, Merkel had already concluded that she couldn’t rely on France when it comes to trade. Now their split is out in the open.EU President Donald Tusk on Saturday backed Merkel’s stance, while seeking to calm the tensions."We, of course, stand by the EU-Mercosur agreement which is also about protecting the climate and environment," he said at a press conference ahead of the talks. All the same, "it is hard to imagine a harmonious process of ratification by the European countries as long as the Brazilian government allows the destruction of the green lungs of our planet, Earth."Merkel is due to land in Biarritz around 3:30 p.m. and will head straight into a bilateral meeting with her French counterpart.Johnson is seeking to divide them over Brexit. Trump is cranking up the pressure on a host of issues from trade to Iran and economic policy. Both are looking for encouragement that there are cracks in the EU’s essential alliance.Macron just handed it to them on a plate.(Updates with comment from Donald Tusk in fourth to last paragraph.)To contact the reporters on this story: Arne Delfs in Biarritz, France at firstname.lastname@example.org;Helene Fouquet in Biarritz, France at email@example.comTo contact the editors responsible for this story: Ben Sills at firstname.lastname@example.org, ;Flavia Krause-Jackson at email@example.com, Robert JamesonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
An investigation of Amazon's marketplace found thousands of items that have been banned or declared unsafe by regulators, or had misleading labels. Third-party sellers comprise an increasing proportion of items sold on Amazon.
Onfleet hit profitability mid-last year, raking in $3.2 million in revenue in 2018 and growing by double digits.
Amazon.com, Inc. (NASDAQ: AMZN) will acquire a minority equity stake in Canadian cargo airline Cargojet Inc. (TSX:CJT), Amazon's air carrier partner in Canada, the companies said Aug. 23. Under the agreement, Cargojet will issue warrants allowing Amazon to acquire up to 9.9% of Cargojet's voting shares at an exercise price of $91.78 a share.
The Jeff Bezos-backed glassware company is planning to open a store and hot shop inside Amazon's developing Denny Triangle campus.
Lone Pine Capital's flagship hedge fund outperformed the S&P 500 Index by nearly 8 percentage points per year since its inception in 1998. But that's mostly because of its tremendous success in the earlier years of the fund. Nowadays Lone Pine's returns go hand in hand with the market. For example, last year Lone Pine's […]
A major retailer, presumably Amazon.com Inc. (NASDAQ: AMZN), will not build a massive fulfillment center at Westphalia Town Center, Prince George's County Executive Angela Alsobrooks announced Friday. “Earlier today I was informed by the company that planned to build a fulfillment center at the Westphalia Town Center that they would no longer be pursuing that site," Alsobrooks said in a statement. "It is our intention to work with the company to identify more suitable locations in the county where they may be able to bring their products." The fulfillment center had been approved by both the Prince George's County Council and the Prince George's Planning Board.
U.S. stock futures are trading lower this morning after China said it would impose new tariffs on an additional $75 billion in U.S. goods. Another potentially market-moving event today is an address by Federal Reserve Chair Jerome Powell to economists that could provide further insight into the future path of interest rates.Source: Shutterstock Against this backdrop, futures on the Dow Jones Industrial Average are down 0.52%, and S&P 500 futures are lower by 0.50%. Nasdaq-100 futures have shed 0.75%.In the options pits, call volume won the day Thursday even as overall activity fell below-average levels. Specifically, about 14.8 million calls and 13.3 million puts changed hands on the session.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMeanwhile, over at the CBOE, the spread between calls and puts narrowed, driving the single-session equity put/call volume ratio back up to 0.74 -- a one-week high. The 10-day moving average held its ground at 0.72.Options activity was buzzing in Gap (NYSE:GAP), Boeing (NYSE:BA) and Amazon (NASDAQ:AMZN), among others.Let's take a closer look: Gap (GPS)The drumbeat of retail earnings continued this morning with Gap. This season some companies like Target (NYSE:TGT) have dazzled while others like Macy's (NYSE:M) have disappointed. Gap split the difference posting mixed results. * 10 Stocks to Own Through a Global Recession For the fiscal second-quarter, the company raked in adjusted earnings-per-share of 63 cents versus estimates of 53 cents. On the top line sales came in at $4.01 billion versus $4.02 billion expected. Same-store sales were particularly disappointing, falling 4% versus an expected decline of 3.1%.GPS stock is trading down just shy of 5% premarket. Because it rallied a similar amount yesterday in anticipation of this morning's event, the damage isn't that bad. The price trend for Gap shares has been bearish for ages, and this report will do little to change the overall posture. If you are shopping in the land of retail stocks, I suggest steering clear of this one until it can at least break above short-term resistance levels such as the $19 zone.As far as options trading goes, speculators favored calls throughout the day. Activity zipped to a whopping 1,186% of the average daily volume, with 119,063 total contracts traded; 70% of the trading came from call options alone.Implied volatility was running hot ahead of this morning's report. At 73%, it was perched at the 100th percentile of its one-year range. Premiums were baking in a move of $2.23 or 12.6%. So with the stock only falling 4.8%, it's fair to say options buyers way overpaid for their wares. Boeing (BA)Negative news surrounding Boeing's 737 MAX jets has hounded the stock for months now. But yesterday the ailing aerospace juggernaut finally received some good news. According to a Reuters report, the company is planning to begin manufacturing 737 MAX jets again in February at an initial pace of 52 planes per month. The plans hinge on regulators giving the green light for the aircraft to fly once more.BA stock took flight on the news, climbing 4.2% on its highest volume session of the month. The gains were enough to carry the stock north of its 50-day moving average for the first time since last month's earnings ugliness ushered it to the south side of the indicator.Much work remains before BA stock reclaims its former glory, but Thursday's rally could be the first step in reversing its downtrend higher. Look for a run toward the next resistance zone at $380.On the options trading front, call popularity popped alongside the stock. Total activity grew to 67% of the average daily volume, with 211,756 contracts traded. Calls claimed 67% of the take.Implied volatility lifted slightly reflecting increased demand for derivatives. At 29% it now sits at the 30th percentile of its one-year range. Premiums are pricing in daily moves of $6.53 or 1.8% so set your expectations accordingly. Amazon (AMZN)Resistance hangs heavy over Amazon shares, rejecting yet another rally attempt on Thursday. The $1,830 zone has denied no less than five breakout bids over the past month. Yesterday marked the latest rejection ending with a bearish reversal candle. The descending 20-day moving average is also now exerting downward pressure on the shares.On a bright note, the clarity of where resistance lies makes it easy to identify when and if one should become bullish on AMZN stock. If we can close above $1,830, then swing away with bull plays. Otherwise, sellers hold the upper hand. * 7 Internet of Things Stocks to Buy Now The action on the options trading side wasn't all that exciting, and yet AMZN still landed atop the leaderboard. Calls outpaced puts by a slim margin despite the price drop. Activity fell short on the session adding to 92% of the average daily volume, with 153,276 total contracts traded. Calls accounted for 53% of the session's sum.Implied volatility held firm at 25% or the 10th percentile of its one-year range. Premiums are cheap, which increases the appeal of long option plays like debit spreads. Premiums are baking in daily moves of $28.59 or 1.6%.As of this writing, Tyler Craig didn't hold a position in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy on the Dip * 7 Marijuana Stocks With Critical Levels to Watch * 7 Internet of Things Stocks to Buy Now The post Friday's Vital Data: Gap, Boeing and Amazon appeared first on InvestorPlace.
America's trade war with China escalated Friday, with Beijing announcing tariffs on $75 billion of additional U.S. products and President Donald Trump telling U.S. companies to reduce their business with China. "We don't need China and, frankly, would be far better off without them," Trump tweeted Friday morning. "The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP.