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EMERGING MARKETS: Global News: February 03

EMERGING MARKETS
  • US / EU (BBG) – US President Donald Trump ramped up his tariff threats to the EU while saying he would speak with the leaders of Canada and Mexico, as stock markets sank following a hectic weekend that saw prospects for a trade war turn into reality.
  • US / CHINA (WSJ) – Beijing is readying an opening bid to try to head off greater tariff increases and technology restrictions from the Trump administration - a sign that China is eager to get trade talks going. However, what it is prepared to offer, according to people in both capitals familiar with Beijing’s thinking - chiefly focused on going back to a previous trade deal that didn’t work out - is likely to intensify debates in Washington over how to negotiate with China.
  • EU (MNI) – Eurozone headline inflation rose in January, pushed higher by a jump in energy costs, Eurostat data showed on Monday. Prices rose 2.5% y/y in January, up 0.1pp, but core inflation was unchanged at 2.7%. However, m/m readings were sharply lower, suggesting sequential falls in coming months. Services inflation, closely watched by the ECB, was lower at 3.9% y/y, down 0.2% m/m.
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  • US / EU (BBG) – US President Donald Trump ramped up his tariff threats to the EU while saying he would speak with the leaders of Canada and Mexico, as stock markets sank following a hectic weekend that saw prospects for a trade war turn into reality.
  • US / CHINA (WSJ) – Beijing is readying an opening bid to try to head off greater tariff increases and technology restrictions from the Trump administration - a sign that China is eager to get trade talks going. However, what it is prepared to offer, according to people in both capitals familiar with Beijing’s thinking - chiefly focused on going back to a previous trade deal that didn’t work out - is likely to intensify debates in Washington over how to negotiate with China.
  • EU (MNI) – Eurozone headline inflation rose in January, pushed higher by a jump in energy costs, Eurostat data showed on Monday. Prices rose 2.5% y/y in January, up 0.1pp, but core inflation was unchanged at 2.7%. However, m/m readings were sharply lower, suggesting sequential falls in coming months. Services inflation, closely watched by the ECB, was lower at 3.9% y/y, down 0.2% m/m.