Tariff Rollback, Brighter China Exports, Lagarde Focus: Eco Day

(Bloomberg) --

Welcome to Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to take you through to the weekend:

• The U.S. and China have agreed to roll back tariffs on each other’s goods in phases as they work toward a deal. If what we’re witnessing is the art of a trade deal, it’s feeling a little like the process for a Jackson Pollock, writes Brendan Murray in Terms of Trade
• President Trump will not impose tariffs on European Union automotive goods next week as threatened, European Commission President Jean-Claude Juncker tells a German newspaper
• China’s exports declined less than expected in October as optimism rose about an interim trade deal with the U.S., while imports contracted for a sixth straight month. Bloomberg Economics says the export data is encouraging, but imports show growth is limp
• A rash of manufacturing job losses, a collapse in investment, a property-market bust or renewed turmoil in the banking sector: These are the risks that could end China’s current policy of restrained stimulus
• By Christine Lagarde’s own definition, the European Central Bank president’s desire for a government spending boost in the euro zone can now focus on a dozen countries
• After three decades of unprecedented advances in incomes and living standards, the European Union’s eastern economies that abruptly swapped communism for capitalism after the Berlin Wall fell are facing new challenges
• The global economy may be shaking off the recession warnings which plagued it just weeks ago, leaving key central banks with some room to pause stimulus. Here’s a collection of this week’s analysis and enterprise from Bloomberg Economics

To contact the reporter on this story: Jiyeun Lee in Hong Kong at jlee1029@bloomberg.net

To contact the editors responsible for this story: Malcolm Scott at mscott23@bloomberg.net, Jason Clenfield

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