U.S. Jobs, Relief Talks Near Collapse, Canada Tariffs: Eco Day

(Bloomberg) -- Welcome to Friday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• It’s U.S. jobs day -- here’s what to expect and how to read the data
• Negotiations on a new U.S. coronavirus relief bill edged toward the brink of collapse after a meeting Thursday between White House officials and top congressional Democrats ended with each side accusing the other of being unwilling to compromise and the biggest issues far from resolved
• The Federal Reserve’s Main Street Lending Program had attracted just eight borrowers as of July 27. The emergency program, designed to to help small- and mid-sized businesses weather the coronavirus pandemic, has been criticized for being slow to roll out
• The Trump administration will reimpose tariffs on some Canadian aluminum imports, hitting a crucial trade partner just weeks after the president’s landmark North American trade agreement went into effect. Canada threatened retaliation
• Canada’s labor market likely continued its comeback last month, but gains are slowing on the long road to full recovery. While the employment gains will be welcome, economists have warned it could still take years before the labor market returns to pre-pandemic levels
• A look at the frenetic days that changed Argentina’s debt talks
• Wage subsidies to help contain unemployment are demonstrating early signs of success in the advanced economies that deployed them, according to the Reserve Bank of Australia
• Hopes for a speedy economic rebound in large parts of Europe are holding ground as manufacturing starts to recover from pandemic lows. Industrial output in Germany rose more than anticipated in June while France and Spain experienced similar trends
• The Bank of England’s surprisingly upbeat assessment for Britain’s economy in coming months is lost on analysts and investors, who see mounting risks that will trigger another round of monetary stimulus

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