Global trade tensions are ratcheting up. Whilst the US and China trade blows President Trump warned of a 5% increase in tariffs on Mexican imports, rising 5% a month up to a maximum 25% in October. Meanwhile China’s manufacturing PMI came in a little soft. But tariffs can only partly be blamed there.
US/Sino trade tensions are rising. US President Trump’s announcement of new tariffs on Chinese imports has prompted threats of retaliation by China, posing downside risks to the global economy as supply chains are disrupt and business sentiment suffers. Meanwhile, UK Q1 GDP data highlights the resilience of the UK economy.
We are currently in Atlantic hurricane season, and with five major hurricanes to date, it looks like it will be the most active one in around seven years, as well as the costliest ever. With the Brexit vote and Trump, it could also be said that we are moving into a very unsettled economic and political weather system. Indeed, it is perhaps the stormiest forecast, economically and politically, the UK and US have faced since around 2010. Continue reading
After 19 months of campaigning at a cost of $2.7 billion the United States has elected its new leader. There’s a tendency to endow political events with too much significance but President-Elect Trump’s approach to some elements of economic policy represent a clear break with the past. What should we expect?