Hold Huawei Hard Line, Fed Cut Warning, Ultra-Rich Tax: Eco Day

(Bloomberg) -- Welcome to Tuesday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

• President Donald Trump faces growing bipartisan pressure to maintain a hard line on Huawei Technologies Co. rather than ease restrictions to cut a trade deal with Chinese leader Xi Jinping
• Dallas Fed President Robert Kaplan sounded a note of caution about cutting interest rates. Trump accused the Fed of behaving like a “stubborn child” in refusing to cut; here are all his quotes on Jerome Powell. For all who are 100% certain of a Fed cut, think again
• They’re an eclectic bunch -- some of the nation’s most privileged heirs alongside entrepreneurs who have made spectacular fortunes in real estate, finance and Silicon Valley. But collectively they’re united on the need to tax more of the richest Americans’ assets
• Terms of Trade: Who will meet Chinese President Xi Jinping -- common sense Trump or Tariff Man?
• In 2018, former Treasury Secretary Henry Paulson warned of an “economic iron curtain” dividing the U.S. and China. Bloomberg Economics’ analysis of U.S. import data shows that for many firms, the curtain has already fallen, writes Tom Orlik
• The Reserve Bank of India will lose one of its most outspoken officials, raising further questions about the independence of the central bank six months after the governor resigned under a cloud
• Trump imposed sanctions on Iran’s supreme leader, Ayatollah Ali Khamenei, and eight senior military commanders, a provocative step designed to increase pressure on the Islamic Republic
• In Sweden, rebellion is stirring against a labor-market framework that has kept wages down to protect the nation’s powerful exporters
• Zimbabwe has brought back its own currency, the Zimbabwe dollar, just over a decade after its was destroyed by hyperinflation. Meantime, Zimbabwe plans to sell elephants to Angola and is prepared to ship wild animals elsewhere to reduce its elephant population due to growing conflict between people and wildlife
• Britain’s economy suffers a 1.4 billion-pound ($1.8 billion) cost from people coming to work either hungover or still drunk, research shows

To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Henry Hoenig

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