US President Donald Trump will meet Chinese Vice Premier Liu He today for continued trade talks. In a sign that tensions could be easing and his stance on China’s telecoms company Huawei might be softening, Trump tweeted overnight saying, “I want the United States to win through competition, not by blocking out currently more advanced technologies.”
Meanwhile, Prime Minister Theresa May faces another rebellion. A group of 100 moderate Tory MPs said they would force her government to delay Brexit if no deal was not agreed next week. The news followed a report that the European Union expected a request to push back Brexit by three months in order to secure an agreement. May has until 27 February to seal her deal before Parliament takes control of the negotiations.
Today is all about inflation. European Consumer Price Index (CPI) data is expected to show that price growth slipped from 1.6 per cent to 1.4 per cent. The drop is likely to be the result of slowing global growth concerns, waning consumer and business confidence and the fact that the European Central Bank (ECB) ended its quantitative easing programme at the end of 2018, which are having deflationary effects across the bloc.
Sterling falls as UK at risk of downgrade by Fitch
Trump turns his tariff offensive to Europe
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