- Congress last week failed to agree on renewing the Generalized System of Preferences, a 1970s trade pact that grants products from developing countries tariff-free access to the American market. The deal will officially expire on Dec. 31.
- "There's nothing developing about India or China any more - 600M people are in the middle class in India and that's probably three or four times the size of our middle class,” said Dan DiMicco, a trade adviser to President Trump.
- Products worth $19B were imported into the U.S. tariff-free under the GSP in 2016, with business groups saying importers saved more than $700M in duties.
- ETFs: FXI, EPI, KWEB, ASHR, INDA, YINN, INDY, CAF, EWH, SCIF, CQQQ, YANG, INDL, MCHI, GXC, FXP, PGJ, CN, PIN, KBA, SMIN, TAO, INXX, CHIQ, IIF, HAO, CHIX, INP, TDF, QQQC, INCO, PEK, CHN, SCIN, CWEB, CXSE, CHAU, XPP, CNXT, ASHS, AFTY, CHAD, FCA, YAO, YXI, GCH, ECNS, CHIM, CHII, CHIE, KFYP, EWHS, JFC, FCHI, OBOR, ASHX, CNYA, FHK, HAHA, XINA, CNHX, KGRN, WCHN
- Now read: 2018 Contrarian Outlook: Easy Rider
Original article