BEFORE THE BELL: Global markets flat as Wall Street takes a holiday; Trump’s China trade attack starts Friday
As Wall Street stays closed for Independence Day, the rest of the global markets are preparing for a trade war.
The US will release its $34 billion in tariffs against Chinese products on Friday, which will reportedly spark retaliation from the eastern country. Donald Trump is also looking at slapping EU autos with a 20 per cent tariff.
According to reports, dozens of countries have brought their concern to the World Trade Organization. But, even the WTO may not be safe as Trump has voiced his displeasure with how the US is treated by the trade authority.
The price of US crude is backing down from a 75 dollar milestone yesterday, steady at 73-75 a barrel this morning.
The Loonie is just above 76 cents US.
Marijuana isn’t the only green gold making its mark across the globe. Analysts say Avocado sales are hitting a record high especially in Europe and China. The interest in the fruit has spiked the price of the product and caused crime waves in Chile as gangs in the country attempt to cash in on the hot streak.