We were still celebrating Standard & Poor’s upgrade of our sovereign risk rating to just a notch below A when our party was disrupted by a tweet from President Trump. All at once, the market reacted in fear that the trade war with China is alive and well. President Donald Trump tweeted that he would slap tariffs on almost all imported goods from China effective today, Friday. The market sell-off started Sunday as investors instinctively sought cover. Wall Street’s top investment banks started to warn clients for a “worst-case scenario,” CNBC reported Tuesday, with all banks predicting steeper losses to come. Markets fell across the globe with the Dow slipping by 471 points. US Trade Representative Robert Lighthizer told reporters the US would go ahead and raise tariffs on Chinese imports from 10 percent to 25 percent, starting today. Treasury Secretary Steven Mnuchin accused China of reneging on matters already agreed upon during previous rounds of … [Read more...] about Global risks
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The North "fired what appeared to be two short-range missiles" from North Pyongan province, Seoul's Joint Chiefs of Staff said in a statement, adding they flew 270 and 420 kilometres (170 and 260 miles) and the South Korean and US militaries were jointly analysing them. The firing of missiles welcomed a US envoy's visit to Seoul by firing at least one projectile for the second time in a week Thursday, the South's military said, as Pyongyang seeks to up the ante in deadlocked nuclear negotiations with Washington. The launch came after North Korea carried out a military drill and fired multiple projectiles on Saturday, with at least one believed to be a short-range missile. It was also hours after the US Special Representative on North Korea, Stephen Biegun, arrived in Seoul late Wednesday for talks with South Korean officials on the allies' approach towards Pyongyang. It is Biegun's first visit … [Read more...] about Urgent : North Korea appears to have fired two missiles
SEOUL (NYTIMES) - In the weeks before North Korea fired short-range projectiles on Saturday (May 4), United States President Donald Trump countermanded the Treasury Department, reversing an announcement that it was tightening economic sanctions against the country. The reason, his press secretary declared, was that "President Trump likes Chairman Kim and he doesn't think these sanctions will be necessary". Now, nearly a year after beginning a bold experiment in the power of personal diplomacy, Mr Trump has run headlong into its limits. He has discovered that friendship between leaders of bitter nuclear rivals may produce good television, but it is not a counterproliferation strategy. After gaining few tangible economic benefits from two summit meetings, the North's leader, Mr Kim Jong Un, is turning to a well-worn playbook written by his father and grandfather. On Saturday, the North fired a volley of projectiles off its east coast in a move that analysts said was intended to escalate … [Read more...] about North Korea revives old playbook with launch
CARACAS—Venezuelan opposition leader Juan Guaido said on Tuesday he had begun the "final phase" of his plan to oust President Nicolas Maduro, calling on Venezuelans and the military to back him to end Maduro's "usurpation." A Reuters journalist later saw security forces firing tear gas at Guaido and around 70 mostly young armed men in military uniform outside the La Carlota air force base in Caracas. Hundreds of civilians also joined the group. But around two hours after Guaido tweeted his announcement, there was no sign of any other military activity, and the government dismissed any suggestion of an insurrection. "We reject this coup movement, which aims to fill the country with violence," said Defense Minister Vladimir Padrino. He said the armed forces remained "firmly in defence of the national constitution and legitimate authorities," and that all military units across Venezuela "report normality" in their barracks and bases. The move was Guaido’s boldest effort yet to … [Read more...] about News Venezuela’s Guaido says troops join him to oust Maduro; gov’t says it is in control
By Brian Lee Crowley Justin Mohammed Opinion Tues., April 30, 2019 Are the federal Liberals right to make it more difficult for immigrants and refugees to enter Canada from the United States? Brian Lee Crowley, managing director of the Macdonald-Laurier Institute, argues Yes, while Justin Mohammed, a human rights law and policy campaigner at Amnesty International, argues No. Yes, Canada would be right to tighten its borders, particularly with respect to those who have been entering Canada illegally. Unfortunately, while the government is making noises that it wants to do so, there is little evidence that those measures will be effective. Let’s begin with why it would make sense to toughen border controls. Canada’s highly successful postwar immigration policy, supported by an all-party political consensus and public opinion, has never been laissez-faire about who gets in. On the contrary. That admirable policy has always been premised on the idea that … [Read more...] about Is Canada right to tighten its border?