Hong Kong protests – Hong Kong’s government attempted to pass a law, that would for the first time ever, allow extraditions to mainland China. Opponents of the new law are concerned that this could open the door for anyone who goes against the Chinese government to be arrested in Honk Kong on exaggerated charges and, sent back to China to face a harsher legal system. Once the intention to pass the law was announced, riots took place on the streets of Hong Kong, with police forced to use tear gas and rubber bullets to control the “riot situation”. As a result, investors were worried, and stocks on the Hang Seng stumbled due to concerns around capital outflow.
US-Mexico tariffs – Late last week, President Donald Trump agreed that he would not impose the 5% trade tariffs on Mexican imports to the US. Instead, he accepted Mexico’s offer of tougher immigration enforcement after being told by senior Republican’s that the tariffs would seriously damage the American economy. Canadian Finance Minister, Bill Morneau, stated that the reversal opens up a clear path for the US-Mexico-Canada trade agreement to move forward.
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