THE DAILY REPORT
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EUR IFO - Business Climate 18:00
IFO - Current Assessment 18:00
IFO - Expectations 18:00
CAN Wholesale Sales (MoM) 22:30
USD Chicago Fed National Activity Index 22:30
Major Bloomberg & Reuters News
Tariff Deadline Nears as China Cancels Trade Talks With U.S.
The U.S. and China are hours away from a new round of tariffs on each other’s goods, with no improvement in relations between the two rivals in sight.
In a significant escalation, $200 billion of Chinese products will be subject to tariffs from 12:00 a.m. Washington time on Monday, on top of the $50 billion in goods already slapped with tariffs actions in the year.
The combined $250 billion in products facing levies is almost half the value of imports from China last year. Meanwhile, $110 billion of goods from the U.S. will become subject to Chinese tariffs around the same time, or about 70 percent of the value of goods it bought from America in 2017.
(Times In AEST)
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