BBC.- Prime Minister Boris Johnson has said he would press ahead with a digital sales tax even after the US threatened to punish France for a similar move. In a proposal first outlined last year, large online companies face a tax of 2% of UK sales from April 2020.
BBC.- By the reckoning of most economists, Donald Trump is engaged in a risky game, as he courts trade fights around the world, undermines the US central bank and runs up the national debt.
MarketWatch.- The Dow Jones Industrial Average is fresh off ringing up its ninth all-time high of 2019 but further records for the market may hinge on a series of speeches by arguably the most important people to the stock market: President Trump and Jerome Powell.
MarketWatch.- The threat of impeachment is back, and this time investors appear to be paying at least some attention. “It felt like politics really wasn’t moving markets too much until today,” Art Hogan, chief market strategist for National, told MarketWatch during Tuesday’s session.
BBC.- President Donald Trump has said the US and China will “very shortly” resume trade talks after a weekend of escalating tension with Beijing. “China called last night… said let’s get back to the table. So we’ll be getting back to the table,” he said.
BBC.- Fears of a possible recession on the horizon has led the White House to begin considering several emergency measures to kickstart the US economy. Donald Trump likes to claim credit for “the greatest” economy ever which he hopes will help him win re-election in 2020. America’s current expansion is the longest in US history. More Americans are in work. They’re being paid more. And they’re spending more.
América Economía.- El presidente de Estados Unidos, Donald Trump, dijo este jueves que Canadá y México están completamente alineados en torno al tratado comercial de Norteamérica (TMEC) y que depende de Washington aprobarlo.
Bloomberg.- President Donald Trump said he’s personally holding up a trade deal with China and that he won’t complete the agreement unless Beijing returns to terms negotiated earlier in the year.
BBC.- US President Donald Trump has announced tariffs on all goods coming from Mexico, demanding the country curb illegal immigration into the US. In a tweet, Mr Trump said that from 10 June a 5% tariff would be imposed and would slowly rise “until the illegal immigration problem is remedied”.
BBC.- The US has reached a deal with Canada to lift tariffs on steel and aluminium imports in a move that could lead to approval for a new North American trade deal.
BBC.- Global stock markets have steadied amid hopes that the US and China will resume talks next month, following an escalation in their trade war.
BBC.- Congress has warned the Trump administration that any trade deal with China should secure substantive policy changes.
BBC.- One of President Donald Trump’s key aims in 2018 was to “level the playing field” of global trade. But so far, his main achievement has been to fill the fields of America with giant mounds of unsold soybeans.
BBC.- US President Donald Trump has stepped up his pressure on the Federal Reserve by warning the central bank against making “yet another mistake”. The Fed is widely expected to announce an interest rate rise – its fourth in a year – on Wednesday.
BBC.- The Trump administration has accused China of not changing its “unfair” practices, inflaming a trade dispute between the world’s two largest economies. In an update to a March report, the US said China had failed to alter its “unreasonable” practices.
BBC.- China has reported its slowest quarterly growth rate since the global financial crisis. The growth figure for the July to September quarter was 6.5% from a year earlier, the National Bureau of Statistics said. The result fell short of Reuters analyst forecasts of 6.6%.
BBC.- US President Donald Trump has renewed his attacks on the central bank, the Federal Reserve, calling it “out of control” and “far too stringent”. Mr Trump said he was not going to fire Fed chairman Jay Powell, but was just “disappointed” in the bank’s policies.
BBC.- US President Donald Trump has responded to speculation that he might be impeached by warning that any such move would damage the economy.
Reuters.- If President Donald Trump’s comments that the Federal Reserve risked killing U.S. economic growth with higher interest rates was even discussed at a policy meeting that ended on Wednesday, there was no sign of it as the central bank indicated it would stick with its forecast of two more rate increases this year.
BBC.- Russian President Vladimir Putin has rounded on US critics of his first bilateral summit with President Donald Trump. Certain forces in the US wanted to sacrifice US-Russian ties for their “narrow party interests”, he told a meeting of Russian diplomats in Moscow. “They are feeding millions of their people stories,” he said.
BBC.- US President Donald Trump has said getting on with Russia is “a good thing, not a bad thing” at the start of his first summit with Vladimir Putin. Mr Trump said he hoped for an “extraordinary relationship” as the two presidents met in Helsinki, Finland.
Bloomberg.- The U.K. prime minister’s push for a so-called soft Brexit, which envisions maintaining a close economic partnership with the European Union, is good for sterling, according to Deutsche Bank AG. The prospect of an interest-rate increase as early as August by the Bank of England will add support for the British currency, said Oliver Harvey, a strategist in London at the German bank.
BBC.- A year ago, President Trump buoyed hopes of a trade deal between the US and the UK, pledging a “powerful” pact that would happen “very, very quickly”. But as Mr Trump meets with Prime Minister Theresa May on Thursday, there is increasing uncertainty that he will deliver.
BBC.- China said it is “shocked” after the US announced plans for fresh tariffs, escalating a trade war between the two countries. The US listed $200bn (£150bn) worth of additional products it intends to place tariffs on as soon as September.
BBC.- The Trump administration has said it does not want one of the world’s biggest phone carriers, China Mobile, to provide telecom services within the US, citing national security concerns.
Bloomberg.- President Donald Trump’s global trade war is posing a growing risk to the kind of robust job gains that the U.S. probably enjoyed again in June.
BBC.- Donald Trump has renewed his criticism of the Harley-Davidson motorcycle firm over its plans to shift production away from the US in order to avoid European Union tariffs. The US president tweeted that the firm was using trade war as an “excuse”.
BBC.- The European Union will launch a raft of retaliatory tariffs against US exports on Friday, a top official has said. The move comes after US President Donald Trump imposed steep duties on steel and aluminium earlier this month. American exports such as blue jeans, motorbikes and bourbon whiskey will be targeted, trade commissioner Cecilia Malmstrom confirmed.
BBC.- US President Donald Trump has threatened to impose tariffs on an additional $200bn (£151bn) of Chinese goods in a growing trade row. Mr Trump said the 10% tariffs would come into effect if China “refuses to change its practices”.
BBC.- US President Donald Trump has imposed 25% tariffs on $50bn worth of Chinese goods, accusing Beijing of intellectual copyright theft. Tariffs that affect more than 800 products worth $34bn in annual trade are due to come into effect on 6 July.