Trade War, Powell Speaks, Germany Dodges Recession: Eco Day

(Bloomberg) --

Good morning Americas. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

• A U.S. demand that China detail how it plans to reach as much as $50 billion in agricultural imports annually has become a sticking point in negotiations on a phase one trade deal
  • Meanwhile, here’s an in-depth look at how Donald Trump’s trade war with China went from method to madness
• Federal Reserve chief Jerome Powell is due to appear before lawmakers in Washington again today. Yesterday he stuck to his call that the Fed’s probably on hold after three straight interest-rate cuts, while flagging downside risks
• Mexico will probably lower borrowing costs for a third straight meeting Thursday and continue the easing cycle into next year
• Brazilian President Jair Bolsonaro may have just eight months to secure lawmaker support for an overhaul of Latin America’s largest economy
• The vulnerability of global growth to trade conflicts and dependence on U.S. momentum were exposed as Asia’s biggest economies -- Japan and China -- faltered and Germany barely dodged a recession
• U.K. retail sales unexpectedly fell in October, leaving growth over the last three months at its weakest for 1 1/2 years
• Behind the day-to-day tariff battles, China’s drawing a “Silicon curtain” in the technology race. The weekly Stephanomics podcast also explores the best and worst cities for drivers

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Zoe Schneeweiss

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