"There is still room for both sides to resolve problems through co-operation and consultation, rather than just resorting to retaliation," said a Chinese policy adviser who added that "we should have plans in case things go wrong."
"During the 2008 financial meltdown..There was a total disconnect between the paper price and physical demand. That’s now happening again, but in reverse. The paper price is rising, but physical demand is falling...This strikes me as total madness... There seems to be no fear in the market… no regard for sense or safety."
It is fitting that just a few hours until the Fed's second rate hike in two quarters, and one day after Goldman downgraded global stocks to Neutral for the next 3 months, not to mention with the results of the anticipated Dutch election due shortly, that global stocks as well as S&P futures are higher, while crude oil has finally managed to stage a rebound as the Dollar DXY index is fractionally in the red.
"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."
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.
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.