Markets gain…Tariff criticism…June jobs figures coming
SEOUL, South Korea (AP) – Global markets are higher Friday with Asian stocks bouncing back as investors responded with calm to increased U.S. tariffs on Chinese imports that took effect midnight Washington time. Futures point to opening gains on Wall Street. Benchmark U.S. crude oil was flat at just under $73 per barrel. The dollar weakened against the yen and the euro.
WASHINGTON (AP) – France’s foreign minister has criticized U.S. President Donald Trump’s economic policy, which includes hiking tariffs on Chinese imports as of today. Jean-Yves Le Drian told France’s RTL radio the policy could affect global growth and that pressure should be brought on the U.S. to avoid descending into an all-out trade war. He said such policies have victims, “but the victims tomorrow will be the Americans themselves.”
WASHINGTON (AP) – Employers in the United States are thought to have kept up their brisk pace of hiring in June, reflecting the durability of the second-longest U.S. economic expansion on record even in the face of a trade war with China. Economists have estimated that 195,000 jobs were added last month and that the unemployment rate remained at an 18-year low of 3.8 percent, according to data provider FactSet. The Labor Department’s monthly jobs report will be released at 8:30 a.m. Eastern time.
BERLIN (AP) – Germany’s highest court says investigators can examine internal documents seized last year from automaker Volkswagen as part of a probe into the diesel emissions scandal. The Federal Constitutional Court on Friday dismissed a legal complaint from Volkswagen seeking to block authorities from using the documents for their investigation. The scandal has already cost $20 billion in fines and civil settlements in the United States.
LONDON (AP) – Aviation giant Airbus has underscored its threat to leave Britain if the country exits the European Union without an agreement on future trading relations. Speaking to reporters Friday, Airbus CEO Tom Enders was candid about his frustration with the government’s lack of progress in talks with the EU. Prime Minister Theresa May will meet with her Cabinet later Friday in an effort to hammer out a unified position on Brexit more than two years after the country voted to leave the bloc.