FT News Briefing Monday, July 1
Jul 1, 2019
Tensions ease between the U.S. and China after President Trump meets with Kim Jong Un, reviving hopes for nuclear talks. The G20 summit highlights a potential shift in trade dynamics, though concerns linger about its longevity. Angela Merkel's plan for EU leadership faces backlash, complicating the political landscape. Meanwhile, HSBC launches a lobbying campaign to clarify its role following the arrest of Huawei's finance director, stirring conversations about corporate accountability.
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Trump-Kim Meeting
- Trump met Kim Jong-un at the DMZ, becoming the first sitting US president to enter North Korea.
- They agreed to resume working-level talks on North Korea's nuclear program.
US-China Trade Truce
- The US and China agreed to resume trade talks and temporarily halt new tariffs.
- Experts, however, are less optimistic, predicting temporary relief and continued economic slowdown.
EU Leadership Gridlock
- Angela Merkel's compromise plan for EU leadership roles faced opposition.
- The proposal suggested Franz Timmermans for Commission President and Manfred Weber for Parliament President, causing conflict.