EU Presses on Tariffs, Biden Stimulus, Overdue Rent: Eco Day

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Welcome to Tuesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • The European Union stepped up its call on the U.S. for each side to suspend tariffs on metals and aircraft
  • U.K. Prime Minister Boris Johnson’s government is sticking to an election promise not to hike taxes on wages and sales next month
  • British businesses ravaged by the pandemic skipped more than 4 billion pounds ($5.5 billion) in rent last year; with the bill coming due, a battle is heating up over sharing the pain
  • U.S. President Joe Biden intends to continue pushing for a large pandemic relief bill, even if he has to bypass Senate Republicans
  • Early in the pandemic some speculated that couples isolated together during lockdowns might produce a year-end baby boom. U.S. data show the opposite occurred
  • The U.S. Treasury slashed its estimated borrowing needs for the three months through March by more than analysts had anticipated
  • Governments must urgently find a way of measuring economic growth that takes into account the price of damaging natural ecosystems, according to a report backed by the British government
  • Political turmoil in Myanmar threatens to impact companies around the world, ranging from rare-earth miners in China to global oil and gas majors and Japanese automaker Suzuki Motor Corp.
  • Pockets of inflation are flickering across parts of Asia, impacting central banks’ scope to support economies as the region leads the global recovery from the pandemic
  • China’s efforts to control a resurgence of Covid-19 are undercutting a recovery that’s been one of the bright spots in the global economy

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