Free trade is fighting back. About 60 American industry federations have created a coalition called "Americans for Free Trade" to fight the White House's tariff barrier policy. Powerful oil and tech federations will push to reverse the trend. They want to make decision-makers aware that the benefits of tax policy, which they support, could be undermined by protectionism.
Decisive weeks for Brexit. While Michel Barnier has been constructive on an EU-UK agreement on Brexit in the coming weeks, Jean-Claude Juncker also recalled that London should not expect concessions. Bloomberg also revealed that a major summit could be announced quickly for November in order to sign the agreement.
Canada takes a softer stance. Trade talks between the United States and Canada to negotiate a new treaty are ongoing. Two sources told Reuters that Ottawa was ready to relax its position on milk quotas to allow US companies to better access to the Canadian market. Milk is one of the main stumbling blocks between the two powers.
The cryptocurrencies at half mast. American regulators do not loosen their grip on cryptocurrencies. The SEC imposed a $200,000 fine on the manager of the hedge fund Crypto Asset Management, who presented himself as officially registered when this is not the case. It also fined an ICO platform $90,000 and ordered repayment of nearly $500,000. FINRA, for its part, has initiated proceedings against the creator of HempCoin. Bitcoin lost 14% in one week and is currently trading below $6,300. The Ethereum sank by nearly 40% at the same time.