Americas: 'Tis the season

Author: John Crabb | Published: 5 Dec 2019

The United States is a cyclical place. The only time an administration can really make actual change is in the first two years of its second term. What is perhaps less known is how the entire financial services industry opens and closes in alignment with the holiday calendar, and that as a result, not much happens in the summer. Come fall, and everything happens with aplomb. This year, however, the ongoing impeachment trial in the House has been a major distraction to legislative change.

US trade has again been at the forefront of the media agenda. Deals with China have been in negotiations for several months, with new developments every day. An agreement was reached with Japan that will reduce tariffs, whereas the US also imposed tariffs on the EU as a direct retaliation to those imposed on Boeing, with the permission of the WTO....