Despite the new name (the U.S.-Mexico-Canada Agreement, or USMCA) dropping any references to trade, let alone freedom, the tariff rates on imports from Canada and Mexico are still a mass of zeroes. The main new element – the abolition of a variety of milk Canada introduced last year to support its domestic dairy industry – is ultimately an anti-protectionist move. The main old element is some fiddling around Nafta’s rules on automotive trade which, as we’ve argued previously, aren’t likely to change much.
Global Economic
Global Economic – The global economy is the worldwide system of trade, production, and finance that connects countries. It involves the exchange of goods, services, and money across borders, driven by businesses, governments, and consumers. This system shapes jobs, wealth, and growth everywhere.
UK Brexit Sec Raab: We Need Unity Of Purpose Fore Brexit Talks
Vast Majority Of Withdrawal Agreement Has Been Settled, Although We Still Have Some Tricky Issues Outstanding, And We’re Making Good Progress
China’s Wang says China will not be blackmailed or yield to pressure over trade – GSR
China’s Wang says China will not be blackmailed or yield to pressure over trade GSR — Days after U.S. President Donald Trump denounced globalism at the United Nations, China positioned itself Friday as a “champion of multilateralism” that is keeping international promises when Washington is backing away from them.
The Fed Is Flying Blind – Gold Silver Reports
US interest rates keep creeping upwards, largely because the US Federal Reserve (Fed) is expected to ramp up borrowings costs further in the coming quarters. The Federal Funds Rate is now in a bandwidth of 1.75 to 2.0 per cent, and the yield on 10-year Treasuries has recently climbed slightly above the 3 per cent level. Higher, let alone further rising, borrowing costs can be expected to have far-reaching consequences for the economy and financial markets in particular.
Data on China’s Manufacturing Growth will Likely show Further Slowdown in September
The Caixin Purchasing Managers’ Index for China’s manufacturing sector is expected to come in at 50.5 points for September, according to estimates by Reuters. That’s below August’s 50.6 points and the lowest reading since June 2017.
Fed Raises Key Rate to Range of 2% to 2.25%, Keeps Forecast for 4 Hikes in 2018
The Federal Reserve said Wednesday that it sees the federal funds rate at 2.4 percent by the end of 2018, unchanged from its June forecast.
Federal Reserve issues FOMC statement – September 26, 2018
Information received since the Federal Open Market Committee met in August indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate. Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low. Household spending and business fixed investment have grown strongly.