Trump Reignites Tariff Threats | Canadian CPI Rises
Published July 17, 2019
President Donald Trump restated that he could place additional tariffs on Chinese imports. Following this series of comments, US equity markets took a major dip, a sentiment that continued into Asia trading. The Chinese central government responded by saying further levies would complicate negotiations which are just starting to get back on track.
Canadian manufacturing sales rose 1.6% to $58.9 billion in May, following the 0.4% decline in April. The increase was mainly due to higher sales in the transportation equipment. Additionally, sales were up in 12 of 21 industries, representing 66.2% of total Canadian manufacturing.
The Canadian consumer price index rose 2.0% in June, down from a 2.4% increase in May, largely due to lower energy prices. Excluding energy, the CPI rose 2.6% year over year. The data largely was reflective of consumers paying less for gasoline, oil and other fuels. This was due in part to falling oil prices amid rising fuel inventories.
UK Brexit Secretary Steve Barclay issued a statement that the risk of a no-deal split with the European Union is “underpriced.” Barclay was asked by lawmakers if he thought the EU would be willing to offer concessions in a deal that would be deemed acceptable to the UK Parliament.