The United States is set to impose retaliatory tariffs on six countries but will delay this for six months to pave the way for negotiations, according to the WSJ. The U.S. is looking to implement tariffs on the United Kingdom, Austria, India, Italy, Spain, and Turkey.Trade Representative Katherine Tai defended the tariffs as she said these were due to the digital services … [Read more...] about U.S. Eyes Retaliatory Tariffs on Six Countries Over Digital Services Taxes
Forex News
India and U.K Want Free Trade Agreement Finalized By End of 2021
India and the United Kingdom are firming up dialogues on a broader free trade agreement targeted to be finalized by the end of the year, according to Bloomberg. Talks include opening up Indian markets to British medical devices, legal firms, and agricultural products including apples, quinces, and pears.The U.K. wants Indian tariffs slashed, particularly on whiskey currently … [Read more...] about India and U.K Want Free Trade Agreement Finalized By End of 2021
OPEC+ to Push Through With Planned Output Hike of 450,000 Barrels a Day
The Organization of the Petroleum Exporting Countries and its allies have agreed to implement a previously planned increase in output, the WSJ reported. The OPEC+ will boost output by about 450,000 barrels a day starting next month.Saudi Arabia will continue to unilaterally cut 1 million barrels a day.The oil producers in April decided to increase output by over 2 million … [Read more...] about OPEC+ to Push Through With Planned Output Hike of 450,000 Barrels a Day
Post-Pandemic Recovery Expected to Prop up Gas Prices in 2021
Western Canada is expected to increase natural gas production by 58% by 2030. Europe’s TTF gas prices may rise by $3/ MMBtu. China's demand for natural gas from gas-fired plants may soar by 8.6% in 2021. Natural gas futures traded at a +1.81% change on May 31, 2021, at 3.040 from a previous close of 2.986 from a 10,000 MMBtu contract size. In the week … [Read more...] about Post-Pandemic Recovery Expected to Prop up Gas Prices in 2021
Turkey’s Manufacturing Sector Contracts For First Time in a Year
Turkey's manufacturing output contracted in May as lockdowns designed to curb the spread of COVID-19 were in place for most of the month, according to IHS Markit. The Istanbul Chamber of Industry Turkey Manufacturing PMI fell to 49.3 in May, falling below the 50.0 threshold that separates expansion from contraction.This compares with 50.4 in April, and the first time it … [Read more...] about Turkey’s Manufacturing Sector Contracts For First Time in a Year
