Trade talks between China and the United States ended on Friday without a deal, but both countries agreed to hold more talks.
President Trump claimed "conversations into the future will continue," and Vice Premier Liu He said China has agreed, describing the discussions as "honest" and "constructive."
In the meantime, however, the president raised tariffs from 10 percent to 25 percent on $200 billion worth of Chinese goods on Friday, leaving open the possibility to remove them, "depending on what happens with respect to future negotiations."
China threatened to retaliate against the tariffs with "necessary countermeasures," which would halt purchases of American farm goods and create other barriers for companies attempting to gain access to China's market.
With that news, the stock market roared back from a 358-point loss triggered by the tariff increase.
In a wide-ranging interview with moderator Margaret Brennan – an annual "Face the Nation" tradition – former Secretary of Defense Robert Gates says he believes the Chinese have an advantage in the ongoing trade stalemate.
"The Chinese have an advantage because they have a strategy. We don't," he said. More of that interview will air this Sunday.
And in the latest surprise turn in the Russia investigation, the Republican-led Senate Intelligence Committee has subpoenaed the president's eldest son, Donald Trump Jr., to follow-up on his prior testimony as part of the committee's independent investigation into Russian interference.
The president said he was "very surprised" by the subpoena, and called it "oppo research."
As the fight over the Mueller report continues between the White House and Congress, the House Judiciary Committee voted on Wednesday to hold Attorney General Barr in contempt of Congress for failing to provide the full, unredacted Mueller report and underlying documents as demanded in a subpoena submitted by Chairman Nadler last month.
White House Press Secretary Sarah Sanders accused Chairman Nadler of "asking the United States to break the law and commit a crime" by releasing documents he's legally not allowed to, and cited this as reasoning for the president's assertion of executive privilege over the Mueller report and all underlying documents.
Speaker Pelosi said she will bring the vote to the full House "when we're ready," and suggested there could be "other contempt of Congress" issues the House will deal with in addition to the attorney general.
House Minority Leader Kevin McCarthy, D-California, said "it will be an embarrassment" if the Democrats bring the vote to the House floor.
And as the Trump administration's Special Representative for North Korea, Stephen Biegun, was meeting with South Korean officials in Seoul this week to discuss efforts to advance the denuclearization of North Korea, Kim Jong Un's regime fired a short-range missile for the second time in five days.
South Korean President Moon Jae-in said Thursday's launch was a message that "North Korea seemed to be discontented it could not reach a deal in Hanoi."
North Korea has given the White House until the end of the year to agree to the basic terms of denuclearization, or threatened to walk away from the negotiating table.
House Minority Leader Rep. Kevin McCarthy, R-Calif., (@GOPLeader) will join us to discuss Attorney General William Barr…
We'll talk with 2020 Democratic candidate Sen. Michael Bennet, D-Colorado, (@MichaelBennet) about his campaign for president. Sen. Bennet also sits on the Senate Intelligence Committee.
We'll sit down with Robert Gates, former Secretary of Defense, at the College of William & Mary where he is serving his second term as Chancellor.
We'll talk with Hank Paulson, former Treasury Secretary, about the administration's stalled trade talks with China.
And as always, we'll turn to our panel for some perspective on the week that was:
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