Summary for the 19th of February 2019


The US President, Donald Trump, received on Sunday from the U.S. Commerce Department the findings about whether imported vehicles pose a national security threat. By designating the imports of autos and auto parts as a risk to the national security, the tariffs of 25% on auto vehicles could be implemented. Trump has for a while been concerned about how the tariffs on US vehicles are higher than on the European vehicles.

A report from The Center for Automotive Research shows that if the US imposes a tariff of 25% on auto vehicles, there would be retaliatory tariffs on US goods. The end results would cost the US economy potentially as many as 367 000 jobs. The President has 90 days to decide on whether to act on the findings.

The trade talks continue today between the US and China in Washington. The US trade delegation is led by the United States Trade Representative, Robert Lighthizer, while the Vice Premier of China, Liu He, would attend the trade talks later this week.

In the UK, seven of Labour members of parliament in the House of Commons have resigned from the party in protest at the leader of Labour party, Jeremy Corbyn’s leadership on Brexit, this can potentially lead to more members resigning. These seven will sit as the Independent Group in the House of Commons. The group wishes that the Labour party will change its strategy and back a new EU referendum.

Indices on the 19th of February: The US stock market was close yesterday (18th of February), and there has not been any market trigger for other stock markets.

Dow: Closed (18th of February )
S&P 500: Closed (18th of February)
Nasdaq: Closed (18th of February)
Nikkei: +0.2%  (19th of February)
STOXX Europe 600 Index: -0.22% (19th of February)

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