- One Royal Union comes together as another breaks apart. Prince Harry and Meghan Markle will wed on Saturday. Around 600 guests are expected to attend, a small crowd in comparison to the Duke and Duchess of Cambridge (William & Kate) who wed in front of 1,900 guests. In other British union news–though it may not getting quite as much media coverage–Brexit negotiations are ongoing as Britain works to separate itself from the European Union (EU). Talks have proven to be quite contentious with reports swirling in the media that perhaps British Prime Minister Theresa May will ask for an extension beyond 2020 to define the terms of a post-Brexit Britain. Big issues include disruption to company supply chains, the Ireland border, the EU rejecting a piecemeal approach, and the presence of the euro-skeptics who want a hard break. All of this has created tensions that cloud the economic outlook in Britain, which we discuss later today on the LPL Research blog.
- Did they or didn’t they? Reports came out that China offered to cut the trade deficit with the U.S. by up to $200 billion a year. However, the Chinese foreign ministry spokesman said the rumors weren’t true and negotiations were still ongoing. These negotiations are a process and will take time, but all sides appear to still be willing to negotiate and find common ground.
- NAFTA misses the deadline. The Thursday deadline set by House Speaker Ryan for a deal to be approved by Congress this year has officially passed. U.S. Trade Representative Lighthizer said that NAFTA countries are “nowhere near” a new deal. This comment got the headlines, but others continue to be optimistic that a deal can happen. In fact, Canadian PM Justin Trudeau said he felt positive about talks overall and Mexico’s Economy Minister said a deal could be reached by the end of May.
Monitoring the Week Ahead
- Germany: PPI (Apr)
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