Headlines discussed at LNWM’s Monday morning meeting:
— US-China trade tensions escalated as both sides announced new tariffs and later seemingly agreed to resume talks; stocks fell worldwide.
— The Chinese yuan hit an 11-year low against the dollar, making Chinese products cheaper vs. US goods and countering the impact of US tariffs.
— The US added 501,000 fewer jobs for the year ended March 2019 than initially reported, despite tax cuts and higher government spending.
— Hong Kong lowered its forecast for 2019 GDP growth to 0% and 1% (vs. 2% to 3% previously), amid disruptive protests against Chinese rule.
— France’s tax on internet giants (Facebook, Google, Amazon etc.) could be lowered in exchange for no new US tariffs on French wine imports.
Disclaimer: Clicking on any of the above links will take you away from the Laird Norton Wealth Management web page and to the source page. While we believe the information in these articles is relevant, we cannot guarantee its accuracy or completeness.