Overseas Headlines – May 5, 2020

United States:

U.S. Trade Plummeted in March With Record Drop in Exports

“U.S. exports of goods and services plunged in March by a record and imports declined by the most in 11 years as the coronavirus pandemic stymied trade and travel. The overall gap in goods and services trade widened to $44.4 billion from a revised $39.8 billion in February, according to Commerce Department data released Tuesday. The median estimate of economists surveyed by Bloomberg had called for a widening to $44.2 billion.”



ECB Weighs Reply After German Ruling Casts Doubt on Crisis-Fighting Program

“European Central Bank policy makers will jump on a conference call Tuesday evening to plot how to respond to a surprisingly critical court ruling that cast doubt over their biggest crisis-fighting program.Officials now have just three months to prove to Germany’s highest court that the asset-purchase program, which has bought 2.7 trillion euros ($2.9 trillion) of debt since 2015 and is adding more each month, is in line with the law.”



China Says U.K. Criticism Risks Poisoning Relationship

“China’s Ambassador to the U.K., Liu Xiaoming, said British politicians who have called for a reset of ties between the two nations risk poisoning the relationship. Anti-China rhetoric is in danger of undermining international solidarity in the fight against the coronavirus pandemic, he said in a webinar on Tuesday.”



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