Global Tax Talks, Green Labor, Bank of Canada Decision: Eco Day

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

  • A U.S.-driven effort to reach a global accord on taxing big tech companies’ overseas profits is getting bogged down over ensnaring one firm in particular: Amazon
  • Labor groups say wind and solar companies have either deterred or actively opposed unionization among workers, curbing wages and benefits in areas where Joe Biden aims to create more jobs
  • The Bank of Canada is poised to pare back its asset purchases amid a stronger-than-expected economic recovery
  • Chinese and U.S. companies discussed how to defuse trade frictions, tap the potential of bilateral economic and trade cooperation and promote healthy development in a closed-door meeting during Boao Forum Tuesday night, the forum’s Secretary General Li Baodong said
    • Global goods trade looks to be doing fine, even with all the uncertainties around the pandemic recovery
  • The United Arab Emirates went on its biggest Treasury-buying foray on record in February, purchasing more of the safe-haven securities than China
  • ECB talks on how to exit its crisis measures will coincide later this year with a potential change to its inflation goal, leaving market participants unsure what monetary support officials will provide and how much inflation they’ll tolerate
  • A Bloomberg Economics ranking shows diverging fortunes for emerging markets in the latest phase of the Covid pandemic

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