U.S.-China Trade Deal, Canada Rate Decision, OECD Gloom: Eco Day

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

• President Donald Trump is pressuring U.S. trade negotiators to cut a deal with China soon in hope of fueling a market rally, according to people familiar with the matter
  • China won’t make big concessions to the U.S. in order to seal a trade deal, former finance minister Lou Jiwei said in Beijing on Wednesday, calling some U.S. demands for change “unreasonable”
  • A potential U.S. -China deal leaves currencies as the fighting ground
• It’s rate decision day in Canada -- here’s what to expect
• America’s job market is defying employer labor shortage reports
• Trump’s big tax cuts did little to boost economic growth, according to Bloomberg Economics’ Tim Mahedy
• The global economy is suffering more than expected from trade tensions and political uncertainty which are clouding prospects particularly in Europe, according to a gloomy report from the OECD
  • The OECD slashed its forecast for the Italian economy to a 0.2 percent contraction this year, reflecting the effects of the global trade slowdown

To contact the reporter on this story: Zoe Schneeweiss in London at zschneeweiss@bloomberg.net

To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Brian Swint

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