U.S. Price Rises, Biden’s Appeal, Fish Deal: Eco Day

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

  • U.S. companies face soaring bills for all kinds of materials that they need to do business -- and surging demand is helping them pass on those higher costs to their customers
  • Banks in the U.S. continued to sit on an ample cash hoard this month, increasing combined holdings to nearly $3.8 trillion to make it their single biggest discrete asset, Federal Reserve data show
  • France and Germany support the U.S. proposal of a 21% minimum tax on multinational companies, French Finance Minister Bruno Le Maire and his German counterpart Olaf Scholz told Le Figaro and Die Zeit in a joint interview released on Tuesday
  • Joe Biden’s massive infrastructure and family-support plans are a direct appeal to the discontented White voters who put Donald Trump in office and to independent suburban women, his advisers say
  • The world’s most important trade negotiation this year centers on a deal aimed at saving the world’s fisheries
  • U.S. trade chief Katherine Tai met with key officials at Pfizer Inc. and AstraZeneca Plc about raising production of Covid-19 vaccines and a proposed waiver of intellectual-property protections as the daily number of confirmed cases keeps rising
  • That come as Bloomberg Economics predicts the euro area is likely to register a double-dip recession in the first quarter as a more infectious strain of Covid-19 swept across the region and forced governments to tighten restrictions on public life

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