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Commercial Awareness Discussion
Commercial News Update - March 2018
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<blockquote data-quote="Coralin96" data-source="post: 269" data-attributes="member: 15"><p>Next update</p><p></p><p>08/03/2018</p><p></p><ol> <li data-xf-list-type="ol"><strong>Another update to Trump's tariffs: </strong>Trump has imposed his tariffs! I was watching a video on the FT that said: "this is one of the most radical trade actions an American president has taken since Nixon". It'll officially go in force in 15 days. Canada and Mexico will be exempted subject to the renegotiation of the North American Free Trade Agreement. And other allies can apply for exemptions. It also looks like the EU and China will retaliate so this is quite a big issue and could lead to a trade war (China said a 'justified and necessary response' would be taken). Meanwhile, 11 countries including Japan and China said they will continue with the trans pacific partnership.</li> <li data-xf-list-type="ol"><strong>The European Central Bank (ECB) is beginning to wrap up its stimulus package</strong>: Currently the ECB is buying €30 bn in bonds every month as part of its €2.3 trillion stimulus package. This was implemented three years ago when the eurozone was really struggling. At a meeting today, it took out a commitment to expand its programme if growth isn't that good. It's part of a broader trend of central banks going back to normal (and not super low interest rates) and it also suggests more confidence in the region. The president also criticised Trump's tariffs at this meeting.</li> <li data-xf-list-type="ol"><strong>The US has warned Africa about Chinese investments</strong>: The US Secretary of State is in Africa this week and he's out to warn against China. He is the first senior official to visit Africa since Trump was elected and is supposedly there to make amends after Trump called some African nations "shitholes" [sorry for the language but that's what he said!]. He warned that African governments should be careful about China's investment of billions of dollars into African infrastructure saying that if the projects go wrongwrong the governments could lose control. The Russian foreign minister criticised the Secretary of State for his comments. This is a sign of how China is investing more in Africa than the US. China has seen opportunity in a country that many in the Western world has given up on. And it'll be interesting to see how the China-Africa relationship develops in the future.</li> <li data-xf-list-type="ol"><strong>Euroclear is to move its holding company from the UK to Brussels ahead of Brexit</strong>: The clearing house chose to move for certainty reasons. It holds €29 trillion of client assets. It's also going to open in Dublin so it can support Irish securities after Brexit. This is a restructuring point - which could be relevant for law firms, especially if many other companies follow.</li> <li data-xf-list-type="ol"><strong>Theresa May isn't having much luck negotiating for financial services: </strong>Belgium and Paris are going to announce that financial sevrices can't be included in a free trade agreement. And the European Council president, Donald Tusk said the free trade agreement is going to be more like Canada - not a special financial services deal.</li> </ol></blockquote><p></p>
[QUOTE="Coralin96, post: 269, member: 15"] Next update 08/03/2018 [LIST=1] [*][B]Another update to Trump's tariffs: [/B]Trump has imposed his tariffs! I was watching a video on the FT that said: "this is one of the most radical trade actions an American president has taken since Nixon". It'll officially go in force in 15 days. Canada and Mexico will be exempted subject to the renegotiation of the North American Free Trade Agreement. And other allies can apply for exemptions. It also looks like the EU and China will retaliate so this is quite a big issue and could lead to a trade war (China said a 'justified and necessary response' would be taken). Meanwhile, 11 countries including Japan and China said they will continue with the trans pacific partnership. [*][B]The European Central Bank (ECB) is beginning to wrap up its stimulus package[/B]: Currently the ECB is buying €30 bn in bonds every month as part of its €2.3 trillion stimulus package. This was implemented three years ago when the eurozone was really struggling. At a meeting today, it took out a commitment to expand its programme if growth isn't that good. It's part of a broader trend of central banks going back to normal (and not super low interest rates) and it also suggests more confidence in the region. The president also criticised Trump's tariffs at this meeting. [*][B]The US has warned Africa about Chinese investments[/B]: The US Secretary of State is in Africa this week and he's out to warn against China. He is the first senior official to visit Africa since Trump was elected and is supposedly there to make amends after Trump called some African nations "shitholes" [sorry for the language but that's what he said!]. He warned that African governments should be careful about China's investment of billions of dollars into African infrastructure saying that if the projects go wrongwrong the governments could lose control. The Russian foreign minister criticised the Secretary of State for his comments. This is a sign of how China is investing more in Africa than the US. China has seen opportunity in a country that many in the Western world has given up on. And it'll be interesting to see how the China-Africa relationship develops in the future. [*][B]Euroclear is to move its holding company from the UK to Brussels ahead of Brexit[/B]: The clearing house chose to move for certainty reasons. It holds €29 trillion of client assets. It's also going to open in Dublin so it can support Irish securities after Brexit. This is a restructuring point - which could be relevant for law firms, especially if many other companies follow. [*][B]Theresa May isn't having much luck negotiating for financial services: [/B]Belgium and Paris are going to announce that financial sevrices can't be included in a free trade agreement. And the European Council president, Donald Tusk said the free trade agreement is going to be more like Canada - not a special financial services deal. [/LIST] [/QUOTE]
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