United States:
Biden Gets a $4 Billion Reminder to Patch Trade Ties With Europe
“Barely 48 hours after President-elect Joe Biden pledged to “make America respected around the world again,” the European Union was among the first in line to remind him that trans-Atlantic trade relations might be a good place to start. Brussels on Monday agreed to put new tariffs on $4 billion worth of U.S. imports, a move taken with the blessing of the World Trade Organization after the EU won a case in Geneva against illegal subsidies to Boeing Co. It was a counter-punch after the U.S., in a parallel filing against Airbus SE, was allowed to impose tariffs on $7.5 billion in goods from nations including France, Germany, Spain and the U.K.”
Europe:
Turkey’s Erdogan Gives Central Bank Green Light for Policy Shift
“President Recep Tayyip Erdogan threw his full support behind the new central bank governor ahead of a key interest rates decision next week. The lira rallied. Erdogan’s comments are critical for Governor Naci Agbal, who faces a key test of credibility as investors watch the Nov. 19 interest rates decision for a sign of a return to orthodox policies after former Finance Minister Berat Albayrak’s two-year-long battle to rein in free markets hurt confidence.”
Asia:
India Extends $20 Billion Package After Luring iPhone Makers
“India approved an incentive program worth 1.46 trillion rupees ($20 billion) to attract companies to set up manufacturing in the South Asian nation, Finance Minister Nirmala Sitharaman said. The government will offer production-linked incentives to 10 sectors including automobile, solar panel and specialty-steel makers over a five-year period, she said after a meeting of a ministerial panel on Wednesday. Textile units, food processing plants and specialized pharmaceutical product makers are also eligible for the incentives.”
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