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Photo Illustration: Tom Hall/Bloomberg

Tariffs Kick In, China Impact, U.K. Brexit Stockpiling: Eco Day

Tariffs Kick In, China Impact, U.K. Brexit Stockpiling: Eco Day

  • Trump unleashes higher tariffs as trade war intensifies
  • Trade war threatens Xi’s 2020 economic growth targets
Photo Illustration: Tom Hall/Bloomberg

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Good morning Americas. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

  • The U.S. hiked tariffs on more than $200 billion in goods from China on Friday in the most dramatic step yet of President Donald Trump’s push to extract trade concessions, deepening a conflict that has roiled financial markets and cast a shadow over the global economy. China promised to retaliate
    • Bloomberg Economics notes that not many Chinese firms could live with 25% tariffs
    • Meanwhile, the U.S. trade deficit with China shrank to the narrowest in almost three years
  • In light on the tariffs, China is likely to load up extra stimulus this year to boost consumption, as otherwise the Communist Party faces failure to meet its long-term growth target
  • Brexit stockpiling and consumer spending spurred the British economy in the first quarter but a disappointing March suggests that a slowdown may already be well under way
  • Europe’s leaders will have no one to blame but themselves if they can’t find a female candidate to even consider for the presidency of the European Central Bank
  • If the gig economy plays a significantly expanded role, the impact will likely be deflationary and is going to cause trouble for central bankers, writes Tom Orlik
  • Concern has grown among some Bank of Japan board members over the side effects of the BOJ’s massive monetary easing, judging by comments from the April meeting released Friday
  • Finally, here’s a look at how outdoor toilets show inequality is rife in Lithuania