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GEORGE FRIEDMAN: Here’s the US’s biggest vulnerability in NAFTA negotiations

“US agriculture exports to Mexico have nearly quintupled since NAFTA started, amounting to $17.9 billion last year” writes George Friedman for businessinsider.com. For a few years, before the US shale revolution and the fall of oil prices, oil production was a boon to the Canadian economy. Source: businessinsider.com Share This:

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GBP News 

EU wants to ‘punish’ Britain for Brexit, suggests Liam Fox

“The European Union wants to “punish” Britain for having the “audacity” to vote for Brexit, Liam Fox has suggested as he insisted that leaving without a deal will not be a “nightmare scenario”” writes Deputy Political Editor for telegraph.co.uk. However Angela Merkel, the German Chancellor, warned that the next stage of negotiations – drawing up a trade deal – are likely to be significantly more challenging. Source: telegraph.co.uk Share This:

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Trump’s threat to Germany

“Trump’s security policy as well as his trade policy” writes Ukas Michae Pool for cnbc.com. Trump’s foreign, security and trade policy represent a frontal assault on Germany’s economic way of life.Under NAFTA, cross-border North American trade has grown five-fold, and now represents one-third of global trade.This has stifled a hoped-for renaissance in German trade with the Middle Eastern country. Source: cnbc.com Share This:

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Tillerson: US will not interfere in EU trade with Iran

“The president’s been pretty clear that it’s not his intent to interfere with business deals that the Europeans may have under way with Iran,” Tillerson told the Journal in an interview Thursday” reports businessinsider.com. Tillerson’s comments appeared aimed at reassuring the Europeans that Washington is not trying to pressure them into avoiding business with Iran.WASHINGTON (Reuters) – The United States does not aim to impede European trade and business transactions with Iran despite President Donald Trump’s decision last week to decertify the 2015 nuclear agreement, Secretary of State Rex Tillerson…

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GBP News 

Brexit trade negotiations blocked by the EU until Xmas

“In a statement, the European Council agreed that trade talks should begin “as soon as possible” but stated that a “firm and concrete commitment” on the financial settlement was required before formal negotiations could begin” writes Adam Becket for businessinsider.com. LONDON — Brexit trade talks have been delayed until the end of the year after EU leaders agreed that there had not been “sufficient progress” on Britain’s divorce from the EU. European Council president Donald Tusk confirmed that the EU would begin internal talks about trade but would not begin…

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First Data to acquire BluePay for $760 million in cash

“FDC, +1.15% said Friday it has reached a deal to acquire BluePay Holdings Inc. from its owners, including TA Associates and BluePay managers, for $760 million in cash” writes Ciara Linnane for marketwatch.com. First Data is expecting the deal to close in the fourth quarter and to boost earnings in its first full year after closing. First Data shares were not yet active in premarket trade, but have gained 30% in 2017, while the S&P 500 SPX, +0.03% has gained 14%. Source: marketwatch.com Share This:

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Markets News 

‘The Trump trade has been reignited’ — analysts on what the Senate budget vote means for investors

“Tax reform is definitely back on – if it was ever off, thanks to the Senate approving of the Republican-backed budget Thursday night” writes Markets Reporter for marketwatch.com. Here is a roundup of what strategists and analysts are saying about the Senate vote and what it means for assets: “The Trump trade has been reignited, so it seems.In a late-night vote Thursday, the Republican-dominated Senate narrowly approved a budget blueprint for the next fiscal year, clearing a big hurdle for them to overhaul the tax code and enact tax cuts.The…

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Whirlpool vs. LG, Samsung: US holds hearing on potential tariffs, penalties

“Experts believe these two massive investments could put the Trump administration in a difficult position where the trade disputes are concerned” reports foxbusiness.com. LG, Samsung and South Korean trade officials are likely to argue that by imposing punitive tariffs or other fines, the United States would be eliminating innovation and potentially harming the consumer, if prices were to rise as a result of decreased competition. A final hearing for that case will happen later this year. Source: foxbusiness.com Share This:

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Here’s why the kiwi dollar doesn’t like New Zealand’s young new leader

“The New Zealand dollar NZDUSD, -1.9432% also known as the kiwi, dropped to $0.7030 in response, touching a five-month low” writes Anneken Tappe for marketwatch.com. Meanwhile, the Australian dollar AUDNZD, +2.2064%  has rallied more than 2% against the kiwi to the highest level since April 2016 on Thursday, buying 1.1213 kiwi dollars.NZ First’s campaign promises include “reforming the country’s Reserve Bank and stopping foreign ownership of New Zealand’s land assets,” wrote Rabobank senior strategist Jane Foley.This would likely “have a depressive affect on the New Zealand dollar given speculation that…

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