U.S. Mulls Tariff Freeze, China Economy, Powell Speaks: Eco Day

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

• The U.S. is willing to suspend the next round of tariffs on an additional $300 billion of imports from China while Beijing and Washington prepare to resume trade negotiations, people familiar with the plans said.
• President Donald Trump often cites China’s massive exports to the U.S. as a grave injustice hanging over the world economy. But lately it pays to look at Chinese imports for the pain that his tariff wars are inflicting on global growth.
• China’s economy saw a modest improvement in the second quarter but the risks ahead look more serious, according to the quarterly Beige Book report.
• Federal Reserve Chairman Jerome Powell said the downside risks to the U.S. economy have increased recently, reinforcing the case among policy makers for somewhat lower interest rates.
• Data from across the U.S. economy Tuesday highlighted the risks to growth amid rising trade tensions and pressure on the Federal Reserve to cut interest rates.
• The Bank of Thailand is facing more reasons to cut interest rates than to hike given a slowing economy and a strong currency. But the timing may not be right yet.

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, James Mayger

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