FT News Briefing UK-US trade talks, Trump warns of virus worsening, Latin American debt concerns
Jul 22, 2020
Trade talks between the UK and the US have hit a snag, with little hope for a deal before the upcoming presidential election. Donald Trump predicts worsening conditions for the pandemic in the US. In Latin America, the pandemic is intensifying urbanization challenges and informal labor issues, raising alarms about a potential new debt crisis. Countries like Brazil and Peru are struggling with high debt and fiscal deficits, amid fears of declining investor confidence and limited support from the IMF.
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UK-US Trade Deal Delay
- The UK government aimed to secure a US trade deal by late summer 2020, post-Brexit.
- This goal was abandoned, with officials blaming the pandemic and ongoing disagreements.
Trump's Somber Warning
- President Trump resumed coronavirus briefings with a warning: the pandemic will worsen.
- Contrasting previous optimism, he urged mask use, acknowledging their impact.
Latin America's Pandemic Woes
- Latin America's high urbanization, large slums, and weak health systems fueled the pandemic's impact.
- Cultural factors like close-knit families and informal labor hindered lockdown effectiveness.