Who and which sectors will suffer the most from Mexico’s new tariffs targeting Asia?

While the US has reached trade agreements with most Asian markets, Mexico has reignited the tariff war by imposing up to 50% import duties. These tariffs may be related to Trump’s intention to push away Chinese exports (directly or indirectly through other Asian countries) from Mexico to the US before renewing the US-Mexico-Canada Agreement (USMCA).On the macro level, exports to Mexico from Asia remain mild. China and South Korea are affected more given the size of trade with 2.4% and 2.7% of exports. Automobiles and steel will be hit the most, but an important point is batteries are not on th...

日銀プレビュー：しつこい円安が 25bps の利上げで日銀と政府の合意を可能にする

Euro area: November inflation review

According to Eurostat's final release , the Euro area annual headline inflation averaged 2. 1 4 % in Novem ber ( 2.16% flash estimate ) , up from 2. 10 % in Octo ber . Core inflation, which excludes energy and food, alcohol and tobacco prices, held at 2. 41 % ( according to flash estimate ) , up from 2. 3 7 % in the previous month. These are in line with our and consensus expectations. HICP inflation by components showed: The contribution of Services to annual headline inflation in creasing to 1. 5 8 pp (1. 54 pp in Octo ber ). The contribution of Food, Alcohol and T...