PERU: Ex-President Vizcarra Freed, Former-President Toledo Receives New Sentence
Sep-04 12:24
- In an unexpected decision yesterday, a Peruvian court ordered that former President Martin Vizcarra, who was serving five months of pre-trial detention on graft allegations, be released from prison. In its ruling, the appeals court said that Vizcarra has sufficient family and work ties to prevent him from fleeing the country.
- Meanwhile, a separate court ruling yesterday saw former president Alejandro Toledo sentenced to 13 years and four months of prison for money laundering. According to a report on Bloomberg, he was found guilty of laundering illicit funds to acquire a house and an office in Lima using an offshore company. Toledo is already in prison for a separate sentence for receiving a $35mn bribe while in office.
- Datawise, the calendar remains clear today, with the next event of note being the BCRP’s interest rate decision next week. Following this week’s much lower-than-expected August CPI data, analysts are currently evenly split between the prospect of the central bank remaining on hold on Sept 11 or delivering a 25bp cut to 4.25%.
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TARIFFS: Trump: 250% Tariff Threatened On Pharma
Aug-05 12:21
"*TRUMP: PHARMA TARIFF WILL BE SMALL, WILL GO TO 250% EVENTUALLY" Bloomberg
Trump had previously suggested pharma tariffs may rise to 200% after 1-1.5 years.
TARIFFS: Trump Threatens EU With 35% Tariffs
Aug-05 12:19
"*TRUMP: TARIFF OF 35% ON EU IF DOESN'T MEET OBLIGATIONS" Bloomberg
Other headlines from Trump's appearance on CNBC (all Bloomberg)
- "*TRUMP: BOTH KEVINS ARE VERY GOOD, OTHERS ARE ALSO GOOD"
- "*TRUMP: TWO OTHER PEOPLE ASIDE FROM THE TWO KEVINS IN MIND"
- "*TRUMP: I LOVE SCOTT, BUT HE WANTS TO STAY AT TREASURY"
- "*TRUMP: COULD USE KUGLER VACANCY TO PICK FUTURE FED CHAIR"
US: MNI POLITICAL RISK - US Trade Partners Eye Last-Minute Deals
Aug-05 12:13
Download Full Report Here
- President Donald Trump will sign an Executive Order at 16:00 ET 21:00 BST.
- Conservative economist E.J. Antoni emerged as MAGA favourite to head the Bureau of Labor Statistics.
- The federal government issued guidance on Monday detailing the implementation of the tariffs.
- The EU expects some turbulence from the framework trade deal with the US.
- The Swiss government will present a “more attractive” offer to Washington in response to the 39% tariff rate announced by Trump.
- Japan’s top trade negotiator will travel to Washington today for his first meetings with US counterparts since the announcement of a trade framework last month.
- Trump escalated his standoff with New Delhi, threatening to “substantially” raise tariffs on Indian imports because of its trade in Russian oil.
- The CBO estimated that the debt service costs of the GOP’s ‘One Big Beautiful Bill’ will total $718 billion over 10 years. House Republican staffers will meet tomorrow to discuss a second reconciliation bill.
- Trump negotiator Steve Witkoff is expected to meet Russian officials in Moscow on August 6, days before Trump's Friday deadline to reach a ceasefire agreement with Ukraine. Russian President Vladimir Putin is open to meeting with Ukrainian President Volodymyr Zelenskyy, if requisite groundwork is completed.
- Israeli Prime Minister Benjamin Netanyahu is considering the full occupation of the Gaza Strip.
- Poll of the Day: Americans are thinking more positively about China.
Full Article: US DAILY BRIEF
