US Sets Deadline for China | Canadian PMI Data Due
Published May 7, 2019
• US Trade Representative Robert Lighthizer confirmed the US would increase duties on Chinese imports on Friday, despite Beijing still sending trade negotiators to Washington this week. The trade delegation will be directed by Vice Premier Liu He, a welcome signal that China remains serious about concluding the trade dispute. • Brexit negotiations between Prime Minister May and the Labour Party are set for today as the major party leaders meet to sign off on a deal that will provide clarity on the delayed exit process. If the negotiations fail, the UK could face another referendum. • The Canadian government is prepared to proceed with the expansion of the Trans Mountain oil pipeline in a decision expected in June. The Trudeau cabinet will meet June 18 and is expected to make its decision afterwards. The federal government bought the pipeline last year to save its expansion, only to see the acquisition face major setbacks from Canadian courts. • Canada’s Ivey PMI data report is set to release this morning, with economists forecasting that the index will ease to 51.5. This comes after impressive figures in March where the index rose to 54.3, which marked a decisive rebound from five-month lows.