Staring Down the Barrel of the Tariff Gun. On orders of President Donald Trump, U.S. Trade Representative Robert Lighthizer will now be looking at raising tariffs from 10 percent to 25 percent on $200 billion in Chinese goods, ranging from cellphones and televisions to toys and clothes.
The Southern Push Against Germany. France and Italy have settled most of their differences and are teaming up to revive controversial eurozone reform policies.
Japan Back to Talking Trade With Trump. The United States has been pushing hard for Japan to enter a bilateral trade deal but Japan has stubbornly resisted, hoping instead to entice the United States back into the newly minted multilateral Comprehensive and Progressive Trans-Pacific Partnership.
A Spike in Turkey-U.S. Tensions. The White House decision on Aug. 1 to sanction Turkish Justice Minister Abdulhamit Gul and Interior Minister Suleyman Soylu over the detention of American evangelical pastor Andrew Brunson, followed by Turkey’s announcement on Aug. 4 that it will retaliate by freezing the assets of two U.S. officials, is one of several major friction points in the relationship between Ankara and Washington.
Iran Sanctions Snap Back. The first round of secondary sanctions linked to the Joint Comprehensive Plan of Action will snap back Aug. 6, limiting transactions of Iranian rials, U.S. dollars, precious metals, coal, steel, software and more between Iran and other countries. The more critical oil-linked sanctions will fall on Nov. 4.
Eyes on Israel. Israeli Prime Minister Benjamin Netanyahu nixed his Aug. 6-9 trip to Colombia to stay closer to the home front, as Israel and Hamas looked like they were coming closer to a deal.
A Real Threat to Mexico’s Energy Reform. The leaders of two Mexican opposition parties, the Democratic Revolutionary Party and Citizens’ Movement, publicly said their senators would vote for the repeal of the country’s 2013 constitutional amendments allowing private investment in Mexican energy.
Here isa a list of the U.S. economic events happening this week.
Review Last weeks numbers here.
Thomson Reuters I/B/E/S