Trade Tensions Escalate, Draghi Patience, Jobs Puzzle: Eco Day

(Bloomberg) -- Welcome to Tuesday, Americas. Here’s news from Bloomberg Economics to help get your day started:

  • Trade tensions between the world’s two biggest economies are intensifying, with China vowing to retaliate "forcefully" against President Trump’s threatened tariffs on another $200 billion worth in Chinese imports
  • Mario Draghi promised that the European Central Bank will take its time to lift interest rates
  • The Bank of Japan should accept it’s making no headway in spurring 2 percent inflation and start normalizing policy, a former BOJ official says
  • Fed Chairman Jerome Powell however seems to be hoping that the U.S. economy has grown a bit like Japan in one key respect: the jobs market
  • Meanwhile, ex-U.S. Treasury Secretary Lawrence Summers warns developed countries are poorly equipped to face another recession
  • Saudi Arabia’s plan to halt oil’s rally could hurt its economy

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