Trade deficit falls for April–not enough to take the heat out of increasingly hot tariff wars
The U.S. trade deficit narrowed more than expected in April. The deficit fell to $46.2 billion. Economists surveyed by Briefing.com had expected $48.8 billion. The March deficit was revised to $47.2 billion from an earlier report of $49 billion. The trade deficit with...
Today markets don’t care about trade or tariffs–but what about if the G7 meeting explodes this Friday?
The Group of 7–Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States–is scheduled to meet on Friday, June 8, and Saturday June 9 to discuss, in theory, global economic growth. In reality, the group will discuss trade, U.S. tariffs, and U.S President Donald Trump’s trade policies.
Saturday Night Quarterback says (on a Sunday), For the week ahead expect…
If the markets do decide that Italy is a problem for another day, that means we’ll revert to the trends that set direction before the crisis gained top of the mind status: oil prices (and the likelihood of an increase in production from OPEC), an interest rate increase from the Federal Reserve on June 13, and tariffs and the possibility of a U.S./China trade war.
Temporary exemptions done; Trump administration imposes steel and aluminum tariffs on EU, Canada, and Mexico
Just hours before temporary exemptions on steel and aluminum imports from the European Union, Canada and Mexico were due to expire at 12:01 a.m. on Friday, the Trump administration has imposed the 25% and 10% tariffs on those imports originally announced in March. Those countries and other U.S. allies and trading partners had been granted temporary exemptions from the tariffs.
Has someone in Beijing read The Art of the Deal?
The next move that would increase China’s leverage–according to then real estate tycoon Donald Trump’s book–would be to cancel the talks scheduled to begin on Wednesday in preparation for the arrival of a U.S. delegation led by Commerce Secretary Wilbur Ross. If those preparatory talks fail to reach agreement on an outline of topics the June 2 trip by Ross could be canceled, the Wall Street Journal is reporting today.
So much for the China tariff truce
Just a week after U.S. Treasury Secretary Stephen Mnuchin declared  a “truce” in President Donald Trump’s tariff war with China, today the White House has announced that it plans to put a 25% tariff on $50 billion in Chinese exports to the United States.  By June 15, the Trump Administration will release a list of some $50 billion worth of Chinese goods that will be subject to a 25% percent tariff
Market shrugs off President Trump’s decision to cancel June 12 North Korea summit
Unless you’re invested in South Korean equities, President Donald Trump’s decision to cancel the June 12 summit with North Korea is a non-event in today’s financial markets. The iShares MSCI South Korea Capped ETF (EWY) was indeed down 1.60% as of 3 p.m. New York time, but the wider iShares MSCI Emerging Markets ETF (EEM) is off just 0.61% and U.S. indexes are lower by even small amounts with the Standard & Poor’s 500 down 0.18%
Stocks up on China trade “truce”–but markets aren’t sure the truce will last or turn into an actual deal
Remarks by Treasury Secretary Steve Mnuchin and White House economics advisor Larry Kudlow over the weekend have the market feeling that the United States and China may avert a full on trade war. The Standard & Poor’s 500 stock index was ahead 0.65% as of 2:30 p.m. in New York on Monday. The Dow Jones Industrial Average is up 1.11%.
Financial markets have a case of “trade jitters” today
It’s actually amazing to me that U.S. stock markets weren’t down more today given all the uncertainty regarding trade relations between United States and China, between the United States and its NAFTA partners Canada and Mexico, and between the United States and the European Union.
It looks we might get a China trade deal before one on NAFTA
Today, House Speaker Paul Ryan announced a May 17 deadline for the Trump administration to submit a proposal NAFTA revision to Congress–if President Trump wants this Congress to vote on a revised agreement. The odds of an agreement emerging from current talks and moving on to Congress on that schedule are just about nil. At the same time news of significant horse trading is coming out of U.S.-China trade talks.
Saturday Night Quarterback says, For the week ahead expect…
The is a week with plenty of potential economic trends–although none is so strong that geopolitics couldn’t seize control of the world’s financial markets
Jim’s Stock Alerts
Download Jim’s eBook for Free
