Tariffs are about to hit consumers, and it won’t be pretty
Tariffs the White House has levied thus far have fallen primarily on industrial supplies and components of other goods. That’s about to change, and consumers will feel the bite if the tariffs are implemented as planned. Economists at Societe Generale...
‘WTO is not broken,’ says WTO Director-General Roberto Azevedo
As trade tensions heat up, World Trade Organization Director-General Roberto Azevedo told CNBC, “The WTO is not broken. The WTO is functioning actually quite well.” Azevedo was responding to remarks by President Donald Trump’s chief economic advisor, Larry Kudlow, who...
Sens. Warren and Sanders introduce bill that would slash Puerto Rico’s debt
Sens. Elizabeth Warren and Bernie Sanders on Wednesday introduced a bill that would essentially wipe out tens of billions of dollars of Puerto Rico’s $73 billion in outstanding debt. The proposal, entitled the “U.S. Territorial Relief Act of 2018,” counts...
Japanese Yen Edges Lower, Inflation Report Next
The Japanese yen has posted slight gains in the Wednesday session. In the North American session, USD/JPY is trading at 110.97, down 0.21% on the day. On the release front, U.S New Home Sales dropped sharply to 631 thousand, well...
Trump reportedly considering 25 percent tariff on foreign-made cars
Despite warnings from fellow Republicans and business leaders, White House advisors believe President Donald Trump has plans to impose a 25 percent tariff on roughly $200 billion in foreign-made cars this year, The Washington Post reported Wednesday, citing three people...
Dollar Turns its Gaze to US Durable Goods and GDP Data
The latter part of this week promises to be exciting for the dollar, as US durable goods orders for June will hit the markets on Thursday, and the first look at GDP for Q2 is released on Friday, both at...
For US pot companies, Canada is the land of opportunity
Green Thumb Industries had a business plan, expertise and plenty of ambition to grow its marijuana business. What the Chicago-based company didn’t have was access to enough capital to make it all happen. So last month, the company with $20...
Mulvaney acknowledges he and Kudlow have been on the losing side of the tariffs argument with Trump
White House budget director Mick Mulvaney acknowledged Wednesday that when it comes to some of the key policy debates, he and other fiscal conservatives are often coming up on the short end. In a look behind the scenes of the...
Dollar and Euro Soft With Master of Deal vs Brutal Killer on the Card
Dollar and Euro are trading generally lower today, except versus Australian Dollar. The meeting between Donald “master of deal” Trump and Jean-Claude “the brutal killer” Juncker is closely watched. But it’s highly unlikely to yield any results on trade. Trump’s...
Buy Tesla shares for the coming ‘step-function up’ in sales: Instinet
Tesla shares will rise as the electric car maker significantly ramps up its deliveries in the September quarter, according to Nomura Instinet. The firm reiterated its buy rating for Tesla shares, predicting the company will report third-quarter sales results above...
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