October 21, 2026
United States:
US-Mexico Trade Talks Hit Impasse as Lutnick Exerts Influence
US and Mexican trade negotiators have hit an impasse over tariffs on steel and aluminum, dashing earlier optimism for an imminent deal and likely kicking major progress until after the midterm elections, people familiar with the matter said.
Talks have cooled off in recent days after US officials including Commerce Secretary Howard Lutnick took issue with Mexican officials’ demands for reduced tariffs on metals, according to two of the people, who asked not to be identified discussing private deliberations.
Europe:
UK Inflation Jumps to 11-Month High as BOE Considers a Hike
UK inflation hit an 11-month high after a surge in petrol and diesel costs, a surprisingly large increase that leaves the Bank of England on track for its first interest-rate hike in more than three years.
Consumer prices rose 3.5% in the 12 months through September, up from 3.1% the previous month, the Office for National Statistics said on Wednesday.
Asia:
Japan’s Export Growth Stays Solid, Supported by Chips, Cars
Japan’s export growth remained solid in September, with shipments of chips and cars rising.
The value of exports rose 16.7% from a year earlier, the Finance Ministry reported Wednesday.
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