1. UK and EU want to agree on new Brexit plan before EU summit
2. US plans to introduce duties on Chinese goods from December 15 remain valid
On Monday, active negotiations between the EU and the UK continue, because over the past weekend the parties failed to achieve significant progress in addressing key issues. Negotiators have very little time left since they need to agree on all the disputed clauses of the agreement before the EU summit, which begins on Thursday. Michel Barnier, the chief negotiator from the European side, stated that despite significant progress, the parties still have to solve a lot of issues. Other European diplomats said that the main problem in the negotiations remains the issue of regulating the Irish border.
On Sunday, US Treasury Secretary Stephen Mnuchin said that the United States’s plans to introduce higher duties on a number of Chinese goods from December 15 remain in effect, despite some progress in the negotiations. These statements have somewhat lowered investor expectations for speedy progress in trade negotiations. Negative influence on investors' expectations is also exerted by reports that China refused to issue visas to American diplomats. This is Beijing’s response to the denial of American visas to Chinese diplomats.
News worth paying attention to today:
09:00 GMT. EU: August industrial output