United States:
U.S. Farm Chief Presses EU to Throw Doors Open to American Foods
“U.S. Agriculture Secretary Sonny Perdue signaled that a renewed transatlantic trade truce will require more ambitious European Union efforts to ease imports of American foods. Perdue criticized an idea being pursued by the bloc of a piecemeal accord that would scale back European regulatory barriers to individual American products such as shellfish, saying a U.S. farm-trade deficit with the EU of $10 billion to $12 billion was “unsustainable and unreasonable.” ”
Europe:
BOE Holds Rates in Carney’s Swansong as Britain Exits EU
“The Bank of England kept interest rates on hold in Governor Mark Carney’s final meeting, waiting for more evidence of an economic rebound before supporting it with a cut. The pound gained. Policy makers voted 7-2 to keep the benchmark at 0.75%, an unchanged split that belied investor expectations the decision was on a knife-edge. The committee noted that surveys of business activity have picked up “quite markedly in some cases” since Prime Minister Boris Johnson’s election victory removed much of the near-term” uncertainty related to Brexit.”
Asia:
Hong Kong’s Port Rides Choppier Waves Roiling Global Trade
“Visitors to Hong Kong’s port might need a reminder that they’re standing in no man’s land of the U.S.-China trade war. Each day, hundreds of staff stream in and out, while trucks and cranes creak, squeak and clang moving shipping containers — a cacophony of global commerce. The world’s trade lanes and the companies that use them are undergoing seismic shifts in the places that steadily grew over the years with the march of globalization. To observe the realignments, Bloomberg last month dispatched reporters to ports, factories and border crossings around the world.”
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