A MACRO MINUTE: Trump is at it again, a tense NATO summit ...

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07/11/2018 | 11:36 am
Welcome back to our daily review of macroeconomic and geopolitical news impacting financial markets around the world. Trump is back with sanctions on Chinese imports (which was hard to miss), while the NATO summit begins with uncertainty and nervousness. Here are today's' main events.

United States. He makes all the headlines and that's understandable. Donald Trump added another layer of import sanctions. As of September, 200 billion dollars of Chinese products could be taxed up to 10%. China has responded by filing a complaint with the WTO and denounces the "commercial hegemonism" of the United States. Trump continues his dangerous game, and no one appreciates it. The indexes are declining, the Chinese yuan is falling, and commodities are weakening.

Chinese imports are 4 times larger than US imports (Source: zerohedge.com)

NATO. The NATO summit starts today in Brussels, under high pressure. Donald Trump blames his allies - especially Germany - for not investing enough in their armies. According to data from the Atlantic Alliance, only four European countries have met the 2% of GDP threshold set in 2014 (United Kingdom, Estonia, Greece, and Poland).

UK. The Brexit situation is still unresolved. After the appointment of Jeremy Hunt to replace Boris Johnson in Foreign Affairs, Theresa May makes every effort to rally her party to her cause, in order to avoid a vote of no confidence. Negotiations should resume next Monday.

India. In terms of GDP, India has become the 6th world power ahead of France, according to the World Bank. The country with 1.34 billion inhabitants has doubled its GDP in a decade and is set to take the 5th place, now attributed to the UK, soon.

Floriane Rousseaux
MarketScreener.com 2018
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