Monday, May 21
The U.S. and China declared a truce in their trade dispute over the weekend, but that will prove temporary if the world’s two largest economies fail to deliver on their vague commitments to re-balance trade. “We’re putting the trade war on hold,” Treasury Secretary Steven Mnuchin said Sunday after the two sides released a joint statement a day earlier. “Right now, we have agreed to put the tariffs on hold while we execute the framework.”
Most Shared on the Bloomberg Terminal (Last 24 Hours):
U.S.-China Truce May Not Last with Differences Unresolved (Bloomberg)
Analysis: China is Winning Trump’s Trade War (Washington Post)
Most Read on the Bloomberg Terminal (Last 24 Hours):
Tesla’s $35,000 Model 3 Could Now Cost You $78,000 (Bloomberg)
Quote of the Day: “A Model 3 with a $35,000 price will be the rarest of the rare,” said Kevin Tynan, a Bloomberg Intelligence analyst. “Perhaps the second most collectible Tesla ever, behind the one floating around in space.”
Trump Grapples with Risks of Proceeding with North Korea Meeting (New York Times)
Trump Demands Department of Justice Look Into ‘Political’ Infiltration of Campaign (Bloomberg)
Texas School Shooting:
Pakistani Exchange Student Sabika Sheikh Embraced U.S. Culture. One of its Darkest Elements – A Mass Shooting – Killed Her (Washington Post)
Fake Facebook Accounts and Online Lies Multiply in Hours After Santa Fe School Shooting (Washington Post)
Real Estate Today: Google Pays $353 Million for Dublin Office Campus (Bloomberg)
Poorer Countries ‘Could Gain $350 Billion’ by Tackling Chronic Diseases (Public Finance International)
Michael Bloomberg, World Health Organization’s global ambassador for noncommunicable diseases, said: “NDC’s impose huge economic costs that fall heaviest on the low-and middle-income countries that can least afford them. This report makes the case for bold action against NDCs from a business perspective, and it outlines some of the most effective ways to reduce their toll, which can help to direct more resources where they are needed the most.”
It’s Official!: Swanky Chinese Restaurant Hutong Coming to 731 Lexington (The Real Deal)
The restaurant will be modeled after Hutong, which occupies the 33rd floor of the Shard tower in London, and will occupy the space formerly occupied by Le Cirque.
The Week Ahead.
Indian Prime Minister Narendra Modi meets with Russian President Vladimir Putin in Sochi, Russia
French Open tennis starts in Paris through June 10
Next round of Brexit negotiations begins in Brussels, with the Irish border the most important issue to be resolvbed before a summit in June
South Korean President Moon Jae-in visits Donald Trump at the White House
Mark Zuckerberg to be questioned by European Parliament on personal data in Brussels
Bloomberg Live’s Sooner Than You Think conference begins in Paris
SpaceX’s Falcon 9 to launch from California
North Korea scheduled to shut down northern nuclear test ground
German Chancellor Angela Merkel begins official visit to China
Bank of England Markets Forum at Bloomberg London, featuring Bank of England governor Mark Carney, New York Fed President William Dudley and UK Financial Conduct Authority CEO Andrew Bailey
St Petersburg Forum begins in Russia
EU’s General Data Protection Regulation takes effect
President Trump delivers commencement remarks at the US Naval Academy in Annapolis, Maryland
Disney’s Star Wars move, “Solo: A Star Wars Story,” opens in theaters
Source: From NI WEEKAHEAD <GO> on your Bloomberg Terminal.
Headlines from around the world.
Bloomberg: China Considers Ending Birth Limits as Soon as This Year
China Daily: Positive Sino-US trade talks ‘benefit both countries, world’
African Independent: Egyptian President to open Gaza border for a month
The Times of India: India now wants artificial intelligence-based weapon systems
The Telegraph (UK): Meghan Markle to fight for feminism: New Duchess of Sussex given palace blessing to champion women’s rights
Best of late night.
The Trump administration met ‘The Sopranos’ in Saturday Night Live’s cold open this weekend, and Tina Fey brought back Sarah Palin for a musical number that reunited some of the season’s Trump White House characters.