All eyes are on Britain again as yesterday Theresa May was forced by her own party to agree on when her time as prime minister would be up. As a result of this and doubts that Britain will leave the European Union with a no deal, the Pound had its longest slide since 2000 yesterday.
Stocks saw a rise yesterday after U.S President Donald Trump decided to delay imposing tariffs on auto imports for a period that could go up to six months.
British Prime Minister Theresa May is planning to take the withdrawal agreement bill to MPs to vote on at the beginning of June. According to Downing Street, this plan will go through even if Labour and the government fail to reach a deal until then.
According to one of the government's main indicators, Japan's economy is deteriorating for the first time in six years.
U.S President Donald Trump raised tariffs on $200 billion worth of Chinese imports, taking tariffs from ten percent to 25 percent overnight.
After the U.S. President Donald Trump commented on trade talks with
China at a campaign rally that "China broke the deal" U.S. stock futures
dropped as much as 0.7 percent.
These comments, along with Trump stating that "they can't do that so they will be paying," also caused Asia stocks to fall and the Yan to strengthen by 0.2 percent against the Dollar.
The UK government will meet with the Labour party today to define how Brexit will progress. According to Foreign Secretary Jeremy Hunt, the talks may bring about compromise even though he does not personally favour a long-term customs union This could mean that the compromise would be to put a customs union in place short-term.
These compromises may be essential, otherwise, a general election or a second referendum becomes more of a probability.
The global food chain is being shaken by a pig virus, African swine fever, that started to kill off pigs in China last summer and has now spread to Mongolia, Vietnam and Cambodia. This has sent a shock wave through the global food chain with the strengthening of the global meat market and the rising of prices.
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