U.S. Jobs Report, Trade Latest, Carney’s Brexit Warning: Eco Day

(Bloomberg) --

Good morning Americas. Here’s the latest news and analysis from Bloomberg Economics to help send you into the weekend:

• Friday’s U.S. jobs report will cap a blockbuster week for the world economy; here’s all that’s happened so far
• Beijing pledged to pledged to respond if the U.S. insists on adding extra tariffs to the remainder of Chinese imports, after President Donald Trump’s abrupt escalation of the trade war
• The escalation has left the global economy, already forecast to post the weakest growth since the financial crisis, bracing for a fresh blow
  • Meanwhile, July data have sent a U.S. gauge of new exports into the red zone on the Bloomberg Trade Tracker, joining a doom-and-gloom theme; Bloomberg Economics updates its analysis of trade-war costs
• There’s a “significant possibility” of a no-deal Brexit that will leave Britons paying more for food and petrol, according to Bank of England Governor Mark Carney.
  • Still, Carney won’t be able to play the savior if the U.K. leaves the European Union with no deal at the end of October
• Asia’s other trade conflict -- that between Japan and South Korea -- also just escalated
• Finally, here’s our catchup of what happened in the world economy this week

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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