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Trump says China called, requested to restart trade talks: Morning Brief

Yahoo Finance
Associate Contributor

Monday, August 26, 2019

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WHAT TO WATCH

Investors will be monitoring the trade situation, and piecing together new U.S. economic data releases for signs of whether this trade sparring has weakened some of the last bastions of strength in the domestic economy.

Recent data has highlighted a bifurcation in the U.S. economy as the trade-sensitive manufacturing sector softened, while the consumer-led service sector held up more strongly.

Today, manufacturing activity indices from the Dallas and Richmond Federal Reserves are both expected to show negative readings again for August, albeit slightly less so than from July. These surveys come on the heels of a report from IHS Markit last week showing U.S. manufacturing activity slid into contractionary territory in August, reaching the lowest level in nearly a decade.

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TOP NEWS

U.S President Donald Trump smiles during a news conference with Japanese Prime Minister Shinzo Abe at the G-7 summit in Biarritz, France, Sunday, Aug. 25, 2019, where they announced that the U.S. and Japan have agreed in principle on a new trade agreement. (AP Photo/Andrew Harnik)

Trump says China called, requested to restart trade talks: U.S. President Donald Trump said China has asked to restart trade talks, hours after Beijing’s top negotiator publicly called for calm in response to a weekend of tit-for-tat tariff increases that sent global stocks plunging. [Bloomberg]

Trump-Abe trade deal helps US farmers, staves off auto tariffs: The U.S. and Japan agreed in principle on a trade deal that would slash Tokyo’s tariffs on American beef, pork and other agricultural products, while delaying for now the threat of additional levies on Japanese auto exports to the U.S. [Reuters]

French, US officials strike draft compromise on French digital tax: French and U.S. negotiators have reached a compromise agreement on France's digital tax, a levy which prompted U.S. President Donald Trump to threaten a separate tax on French wine imports, a source close to the negotiations said. [Reuters]

Tesla to raise prices in China on August 30: U.S. electric vehicle maker Tesla Inc (TSLA) will raise prices in China on Friday, earlier than planned, and is considering increasing prices again in December should Chinese tariffs on U.S.-made cars take effect, people familiar with the matter said. [Reuters]

Fed is thinking globally despite Trump's push for 'America First'The Federal Reserve is paying attention to the effects of its interest rate policies on other countries, despite President Donald Trump’s efforts to pit the Fed against the central banks of the world. [Yahoo Finance]

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