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Treasury Secretary Steven Mnuchin said there is “a level of risk” that the tariff dispute between the United States and China will erupt into a full-scale trade war, though he’s “cautiously optimistic” that the world’s two largest economies will resolve differences through negotiations.

President Donald Trump threatened to pull out of the North American Free Trade Agreement if Mexico doesn’t stop people and drugs from flowing into the United States from Central America.

Oil slumped more than 5% to the lowest close this year after government data showed production cuts from OPEC and other producers have not been enough to reduce U.S. supplies.

President Barack Obama will propose a $10-per-barrel tax on oil in his fiscal 2017 budget to finance self-driving cars, public transit, railroads and other transportation improvements, the White House said.

TransCanada Corp.’s request to pause a U.S. review of its Keystone XL oil pipeline gives President Obama a way to ease a political headache at home and help him repair frayed relations with Canada.