President Donald Trump wants to move ahead with a plan to impose tariffs on $200 billion in Chinese imports as soon as a public-comment period concludes next week, according to six people familiar with the matter.
- Predicting Trump: Chinese Turn to Fortune Tellers to Divine Trade War – Reuters
- Trump Threatens to Pull US Out of the WTO – Financial Times (subscription)
- China Suffers Three-Month Export Downturn as Tariffs Bite – South China Morning Post
President Macron is preparing to throw Theresa May a lifeline by pushing other EU leaders to agree a close relationship with Britain after Brexit as part of his vision for a united Europe.
- EU’s Barnier Says Must Prepare For a ‘No-Deal’ Brexit – Reuters
- Asia Foreign Exchange Markets Heat Up After Brexit Hopes Rise– Financial Times (subscription)
- Pound Firm After EU Offers Britain a Post-Brexit Partnership – Reuters
The UK and the European Union still say in public they want a Brexit deal wrapped up in the next seven weeks. Behind the scenes, though, senior officials on both sides admit this is unlikely.
US and Mexican trade negotiators are “hours” away from squaring away bilateral differences on the North American Free Trade Agreement but work with Canada is likely to stretch into September, a top Mexican official said on Sunday.
Increasing consensus at the Federal Reserve on the need to continue raising US interest rates was on display at the start of a global central bankers meeting here, as the longstanding distinction between so-called policy hawks, centrists and doves blurs in the face of falling unemployment. Read More
The United States and China escalated their acrimonious trade war on Thursday, implementing punitive 25 percent tariffs on $16 billion worth of each other’s goods.
- US Seizes on Chinese Economic Vulnerability as Trade Talks Start – Wall Street Journal (subscription)
The benchmark S&P 500 touched a record high on Tuesday and equaled its longest-ever bull-market run, buoyed by strong earnings reports in the consumer sector and relative calm in the trade dispute between the United States and China.
US President Donald Trump said on Monday he was “not thrilled” with the Federal Reserve under his own appointee, Chairman Jerome Powell, for raising interest rates and said the U.S. central bank should do more to help him to boost the economy.
Venezuela’s president Nicolas Maduro announced on Friday a single exchange rate pegged to his socialist government’s petro cryptocurrency, effectively devaluing by 96 percent in a move economists said would fan hyperinflation in the chaotic country.
- Venezuelan Crisis Escalates as President’s Economic Plans Fuel Tensions – Wall Street Journal(subscription)