Sunday, 24 June, 2018

Developments on trade as Trump heads to Canada for summit

Canadian exports hit all-time high in April Canada’s Trade Deficit Narrows to Six-Month Low
Laurie Berry | 08 June, 2018, 19:10

But for the year, the deficit is still up 11.5 percent from a year ago despite President Donald Trump's vow to close the gap through new tariffs on imports and renegotiated trade deals.

Economists had expected a deficit of $3.4 billion, according to Thomson Reuters Eikon.

The trade deficit in goods with China widened 8.1 percent to $28 billion in April.

The report also showed a modest decrease in the value of imports, which edged down by 0.2 percent to $257.4 billion in April from $257.9 billion in March.

"One is hard-pressed as to not concur that the U.S. economy not only remains on solid footing, but is likely to show an accelerated pace of growth in the second quarter", said Sam Bullard, a senior economist at Wells Fargo Securities in Charlotte, North Carolina.

Economists say that tariffs will do little to shrink the trade deficit, partly because of the dollar's status as the global reserve currency and the low USA savings rate, including a fiscal deficit that has been blown up by a $1.5 trillion tax cut package.

NASA has found something on Mars, we find out tomorrow
At the same time, British journalist and media commentator Nick Pope voiced his opinion on the new MSL discovery on Twitter . InSight won't rely on either CubeSat for that data relay, however; that job will fall to NASA's Mars Reconnaissance Orbiter.

Imports of goods decreased 0.3% to $209.5 billion. Deficit narrowed by almost half CAD 1.9 billion. She added: "If Trump is serious about reducing our trade deficit, then he must stay focused on changing China's unfair trade practices, not settle for the usual Chinese promises to buy more US exports".

"The recently imposed tariffs on aluminum and steel, together with retaliatory Canadian tariffs, will likely hold back movement of metals and metal products across the border and be a drag on economic activity - particularly in Quebec and Ontario". Talks to head off a trade war between the world's two largest economies have so far failed to produce a resolution, even though China has offered to step up purchases of USA farm and energy products. Exports advanced 1.6 per cent, the sixth gain in the past seven months.

Michael Pearce, Senior U.S. Economist at Capital Economics, said the narrower trade deficit in April means that net trade should provide another small boost to GDP growth in the second quarter. They were in April supported by a $1.3 billion increase in deliveries of industrial supplies and materials such as fuel oil and petroleum products.

Analysts polled by Reuters had expected May shipments from the world's largest exporter to have risen 10.0 percent on year, compared with a revised 12.7 percent gain in April.

The value of Canadian building permits fell 4.6 per cent in April from March, the biggest drop in five months. Labor costs rose at a rate of 2.5 percent in the fourth quarter.

Recommended

Jemima threatens to run sons libel claim against Reham Jemima threatens to run sons libel claim against Reham She alleged in detail that Akram used to let a man of African-origin to have sex with her while he watched. As per the leaked book, this explosive content was at pages 402 and 572.

Tottenham striker Harry Kane signs new contract until 2024 Tottenham striker Harry Kane signs new contract until 2024 They are due to move into the ground next season after playing last season's home matches as Wembley Stadium. It means the Spurs striker has committed to the club until 2024.

Michael Myers gets loose in first trailer for ‘Halloween’ reboot Michael Myers gets loose in first trailer for ‘Halloween’ reboot She called the film " astonishingly scary " on social media, then teased to Yahoo that it goes "full-tilt boogeyman". They are joined by Will Patton , Andi Matichak , and Judy Greer .

Hailee Steinfeld Is Spider-Gwen In 'Spider-Man: Into The Spider-Verse' Hailee Steinfeld Is Spider-Gwen In 'Spider-Man: Into The Spider-Verse' This trailer shows us Miles Morales first taking on the role of Spider-Man with a very disheveled Peter Parker as his mentor. Since he's older and more experienced, he takes him under his wing and says he'll teach Morales to be Spider-Man.

Trump finally did the one thing that will drive powerful Republicans away Trump finally did the one thing that will drive powerful Republicans away Democratic co-sponsors include Mark Warner of Virginia, Brian Schatz of Hawaii and Chris Van Hollen of Maryland. The requirement would apply to all such actions moving forward as well as those taken in the past two years.

Pippa Middleton Confirms She's Pregnant With Her First Child Pippa Middleton Confirms She's Pregnant With Her First Child In the latest issue of Waitrose Kitchen magazine , the soon-to-be-mom explained why her pregnancy is different from her sister's pregnancies.

ACT immunotherapy cures terminal breast cancer patient ACT immunotherapy cures terminal breast cancer patient The study was funded by the National Cancer Institute, some foundations and proceeds from the US breast cancer postage stamp. Perkins remembers her oncologist giving her three years to live when her breast cancer returned in an advanced form in 2013.

Donald Trump says he may pardon late boxing champion Muhammad Ali Wrongful convictions have been erased with presidential pardons, but there is technically no longer a conviction on Ali's record. Trump has also previously floated pardoning Martha Stewart and a commuting the 14-year sentence for ex-Illinois Gov.

Interesting Things Apple Didn’t Clarify About iOS 12 Interesting Things Apple Didn’t Clarify About iOS 12 Apple has added several simple actions users can perform without having to leave Finder, such as rotating and cropping photos. Valve has not responded to the new guidelines yet, but we imagine that the iOS Steam Link app will be released soon enough.

Kindergartners sing about lockdowns in 'jarring' nursery rhyme Kindergartners sing about lockdowns in 'jarring' nursery rhyme Somerville Public Schools did not reveal to HuffPost which school had the poster, but a statement to HuffPost from Mayor Joseph A. With limericks like, " Shut the lights off say no more ". " Go behind the desk and hide , wait until it's safe inside ".

Tiger Woods yacht spotted in the Hamptons prior to US Open Tiger Woods yacht spotted in the Hamptons prior to US Open According to Page Six sources, Woods will stay on the yacht during the tournament, which is what he also did in 2006. Privacy will reportedly be docked in the Hamptons , giving the 42-year-old golfer an hour trip to Shinnecock Hills.

Ghana Football Association Dissolved Following Documentary Exposing Widespread Corruption Ghana Football Association Dissolved Following Documentary Exposing Widespread Corruption Youth and Sports Minister Isaac Asiamah told KweséESPN that the dissolution means all football activity is on hold in the country. GFA's president Kwesi Nyantakyi was seen taking $65,000 in the documentary released on Wednesday.

Volcano rescue disrupted in Guatemala Volcano rescue disrupted in Guatemala Officials said the speed and ferocity of the eruption took mountain communities by surprise, with numerous dead found in or around their homes.

Philippines spokesman defends President for kissing married woman on lips Philippines spokesman defends President for kissing married woman on lips Duterte then gestured to the second woman, who was visibly starstruck standing next to him, to kiss him on the lips. But the president asked her to come closer for a kiss, pointing to his lips.

It shows the growing severity of the issue When someone is at risk of committing suicide, he said, treat the situation as a "CPR intervention" and get help right away. That means any public health effort to reduce suicides can't exclusively focus on those who have reached out for help.