Donald Trump is showing why independent central banks are a good idea. The president’s double tirade against Federal Reserve Chairman Jerome Powell on Thursday conjured another dark cloud over financial markets and an economy repeatedly traumatized by his tariff and trade-war chaos.

President Trump claimed progress on multiple fronts in developing trade talks on Thursday as his tariff policy disrupts global trade relationships and increasingly hones in on China. Trump was optimistic about negotiations with China,

Trump's comments further pointed to a diminished appetite for sharply higher across-the-board tariffs on dozens of countries after markets reacted violently to their introduction on April 2.

China is facing a double whammy: corrosive deflation and tariffs that threaten to block trade. Chinese workers will be the biggest casualties.

Trump imposed 10% tariffs on goods from all countries and higher tariffs for countries the administration says have high barriers to U.S. imports, most of which he later paused for 90 days. He also imposed a 145% tariff on China,

Gov. Gavin Newsom, who has tussled with Donald Trump over the years, described the president's tariffs as "unlawful."

California is taking on President Donald Trump - from immigration to economics, to the future of the Democratic party, the biggest national battles are playing out right here in the Golden State. FOX 11's Elex Michaelson,