July 2, 2018 / 11:26 AM / 17 days ago

Monday Morning Briefing

Good morning. The U.S. Chamber of Commerce attacks Trump on tariffs, Mexico sets the stage for its most left-wing government in the country’s democatic history and Netflix turns to one of the oldest forms of media to gain an edge. 

A SpaceX Falcon 9 rocket exits the atmosphere for a cargo resupply mission to the International Space Station, over Cape Canaveral, Florida, U.S., June 29, 2018. REUTERS/Joey Roulette

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TRADE

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

Investors have sharply increased their use of hedging strategies, signaling concerns that the intensifying trade battle between the United States and China 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. 

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 this year. 

MEXICO

Andres Manuel Lopez Obrador won Mexico’s presidency in a landslide victory on Sunday, 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. 

Commentary: The World Cup is showing that football can both prompt tribalism and calm it, says 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. 

BUSINESS

U.S. stock index futures were lower on the first trading day of the second half of this year, as worries of a trade war between the United States and other major economies did not let up.

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.

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.

REUTERS TV

A key moderate Republican U.S. senator said yesterday that she will not support a nominee to fill a soon-to-be-vacated seat on the Supreme Court who would overturn a landmark legal ruling that supports a woman’s right to abortion. Lisa Bernhard reports.

Collins won't back anti-abortion court nominee
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