2018-06-02 09:35:00 Sat ET
technology antitrust competition bilateral trade free trade fair trade trade agreement trade surplus trade deficit multilateralism neoliberalism world trade organization regulation public utility current account compliance
The finance ministers of Britain, Canada, France, Germany, Italy, and Japan team up against U.S. President Donald Trump and Treasury Secretary Steven Mnuchin at a G7 forum. These finance ministers suggest that the recent U.S. trade actions undermine economic confidence in the Western alliance.
The G6 delegation requests Mnuchin to communicate their unanimous concern and disappointment to President Trump. Meanwhile, Commerce Secretary Wilbur Ross completes his recent trade talks in China with little sign of progress. In China, the state-run news agency Xinhua states that all the economic outcomes of recent trade talks will not take effect if the U.S. imposes any tariffs or other trade sanctions. These recent developments suggest the delicate balance that both Mnuchin and Ross need to maintain as Trump moves forward with 25% tariffs on aluminum and 10% tariffs on steel from his close Western allies and another $50 billion tariffs on Chinese imports.
OECD figures suggest that the current global economic growth rate is 3.8% without any exogenous tariff shocks. S&P chief economist Paul Gruenwald suggests that these tariffs can take a quarter off the world's economic growth rate in a Sino-U.S. trade war. The European Central Bank's projections also warn of a 1% contraction in global economic growth in the first year of Trump tariffs. The medium-term real effects of Trump tariffs may be detrimental to global economic growth and stock market resilience.
If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.
2018-03-02 12:34:00 Friday ET

White House top economic advisor Gary Cohn resigns due to his opposition to President Trump's recent protectionist decision on steel and aluminum tariff
2025-10-09 11:30:00 Thursday ET

Stock Synopsis: With a new Python program, we use, adapt, apply, and leverage each of the mainstream Gemini Gen AI models to conduct this comprehensive fund
2019-05-13 12:38:00 Monday ET

Brent crude oil prices spike to $70-$75 per barrel after the Trump administration stops waiving economic sanctions on Iranian oil exports. U.S. State Secret
2024-04-02 04:45:41 Tuesday ET

Stock Synopsis: High-speed 5G broadband and mobile cloud telecommunication In the U.S. telecom industry for high-speed Internet connections and mobile cl
2019-09-23 12:25:00 Monday ET

Volcker, Greenspan, Bernanke, and Yellen contribute to a Wall Street Journal op-ed on monetary policy independence. These former Federal Reserve chiefs unit
2019-10-25 07:49:00 Friday ET

U.S. fiscal budget deficit hits $1 trillion or the highest level in 7 years. The current U.S. Treasury fiscal budget deficit rises from $779 billion to $1.0