Monday Morning Briefing: Largest U.S. business group attacks Trump on tariffs

trade

The U.S. Chamber of Commerce, the nation’s largest business group and customarily a close ally of the Republican Party, is launching a campaign today to oppose Trump’s trade tariff policies.

William Mallard  @BillyMallard

The new campaign, detailed first to @Reuters, is an aggressive effort by the business lobbying giant. Its state-by-state analysis argues that @realDonaldTrump⁩ is risking a global #trade war that will hit the wallets of US consumers. https://reut.rs/2tLa1a2

11:44 AM - July 7, 2018

Trump has rattled the world trade order this year by seeking to renegotiate the terms of some of the United States’ trading relationships, in particular with China. Read our latest Factbox that tracks the tit-for-tat trade actions and threats.

Investors have sharply increased their use of hedging strategies, signaling concerns that the intensifying trade battle might hit economies from Germany to South Korea.

The European Union has warned the United States that imposing import tariffs on cars and car parts would harm its own automotive industry and likely lead to counter-measures by its trading partners on $294 billion of U.S. exports.

mexico

Andres Manuel Lopez Obrador won Mexico’s presidency in a landslide victory yesterday, setting the stage for the most left-wing government in the country’s democratic history at a time of tense relations with the Trump administration.

Hundreds of Mexicans living in California drove for hours yesterday to vote south of the border for Lopez Obrador as president, persuaded by his pledges to stand up to Trump and end graft and violence at home.

world

A Myanmar court will rule next week on whether to charge two Reuters reporters accused of obtaining secret documents, after prosecutors and defense lawyers delivered final arguments today in the pre-trial phase of the landmark case. Read more on Wa Lone and Kyaw Soe Oo’s case.

The World Cup is showing that football can both prompt tribalism and calm it, says columnist John Lloyd. “The reflection may be of some use to Angela Merkel, as she struggles to hold a fractious European Union together.” Merkel will make a last-ditch effort to end a migration row with her conservative allies by holding more talks with her interior minister, whose offer to resign cast doubt over whether her fragile government can survive.

Sarah Dadouch  @SarahDadouch

Asked why the leader of the world’s 1.3 billion Catholics, then three years into his papacy, could not put a woman into a middle-ranking Vatican role without a fight, the pope smiled and replied: “Bosses cannot always do what they want." https://reut.rs/2MJ6GiX by @PhilipPullella

6:32 AM - July 2, 2018

Sponsored by Barclays: Job security in the robot economy As machine learning and AI become more commercially viable, will humans be replaced in the workplace? We don’t think so. Find out why.

Business

Exclusive: Tesla hits Model 3 manufacturing milestone, hours after deadline - factory sources

Tesla nearly produced 5,000 Model 3 electric sedans in the last week of its second quarter, with the final car rolling off the assembly line yesterday morning, several hours after the midnight goal set by Chief Executive Elon Musk, two workers at the factory told Reuters.

5 min read

Coming soon from Netflix: Three dozen billboards in Hollywood

Netflix, the streaming video pioneer that revolutionized television, is investing in one of the oldest forms of media to gain an edge in the raging battle for online viewers and top-notch talent: billboards.

6 min read

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