Trade war has erased $1.7 trillion from U.S. companies' market value, Fed report says
“Previous research found US companies ‘bore virtually all the cost’ of new import tariffs, diverting cash away from earnings and investment. The following tit-for-tat escalations ‘are likely to have adversely affected investment by reducing expected returns’ and led companies to incur supply-chain-disruption costs, the Fed said.”
[Markets Insider]
India, U.S. could strike smaller trade deal in coming weeks
“The understanding between the leadership of the two countries was that they will go for the smaller one and then immediately start negotiations on the bigger trade deal, he said.”
[Economic Times]
U.S. to block Chinese airlines from flying into the U.S.
“The Transportation Department restrictions will take effect June 16 but could be enacted earlier if President Donald Trump decides to do so.”
[CNN]
Europe renews push to slash global tariffs on medical goods
“The goal would be to end customs duties on drugs including antibiotics, penicillins and vaccines and on equipment such as masks, gloves and gowns. The initiative would also aim to give countries less room during health crises to curb international trade in such goods through, for example, export restrictions.”
[Bloomberg]
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