"A civil war has broken out within the White House over trade, leading to what one official called "a fiery meeting" in the Oval Office pitting economic nationalists close to Donald Trump against pro-trade moderates from Wall Street."
Credit Suisse's Restaurant team is warning that the latest attempt of Starbucks' CEO Howard Schultz to cram his political opinions down the throats of his customers could cause the company to miss upcoming same-store-sales estimates, 'bigly'.
Thanks to a surge in prices from Canada and Asia Near East, US Import Prices soared more than expected in February. The 4.6% rise is the highest since February 2012, driven by a 40.5% surge year-over-year in Fuels and lubricants.
Mexico has taken a pre-emptive step in the imminent trade dispute with the US, by canceling existing sugar export permits to the US in a dispute over the pace of shipments, Reuters reports citing a letter. The trade flare-up according to industry sources could temporarily disrupt supplies.
In a report that will be closely scrutinized by the trade-sensitive Trump administration, today the Department of Commerce announced that the January trade deficit surged in January 2017, jumping from $44.3 billion in December (revised) to $48.5 billion in January, as imports increased more than exports.This was the biggest trade deficit going back to early 2012.
Technology always creates painful disruptions. But the correct approach is to do nothing. The problem is government and the Fed, not technology. The government is hell-bent on policies that destroy jobs and the Fed is hell-bent on producing inflation in a technological price deflation world. Blame the Fed and governments, not technology, for alleged “living wage” problems.
the Trump administration has warned that the U.S. isn't and won't bound by decisions made at the World Trade Organization, in outlining a new trade agenda that "promises to root out unfair practices by foreign countries" and to escalate what are already simmering trade conflicts.
After President Trump's plans for renegotiating NAFTA and building a border wall have monkeyhammered the Mexican Peso to record weakness, it appears Banxico has found a friend to help defend its currency - The Fed.