FT News Briefing Thursday, October 3
Oct 3, 2019
Global stocks saw a significant decline, with the UK market experiencing its worst day in over three years. The Trump administration is set to impose tariffs on EU imports after winning a WTO case. Meanwhile, Trump plans to cooperate with congressional subpoenas in light of the impeachment inquiry. Additionally, Boris Johnson's speech at the Conservative party conference reveals his new approach to Brexit, amidst a backdrop of growing political tensions and economic concerns.
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Global Stock Market Drop
- Global stocks fell heavily on Wednesday, the UK market's worst day in over three years.
- This was influenced by weak manufacturing data, WTO ruling, and Brexit uncertainty.
US Tariffs on EU Goods
- The US will impose tariffs on EU goods like cheese, whiskey, and olive oil.
- This follows a WTO ruling against the EU for subsidizing Airbus.
Trump and Impeachment Inquiry
- Trump agreed to cooperate with the impeachment inquiry led by House Democrats.
- The inquiry concerns Trump's call with Ukraine's president about Joe Biden.