The US PPI will come out on Thursday, May 12, at 15:30 MT time.
Japan will raise tariffs on frozen beef imports from America
On Friday, Japan's Ministry of Finance told that the Asian country will increase tariffs on frozen beef imports from the USA as well as other countries from August for the purpose of protecting domestic producers.
Tariffs on frozen beef are going to leap to 50% from the current reading of 38.5% between August 1 and the end of March 2018, as a safeguard measure to protect domestic farmers is being triggered, as the ministry told.
The expected tariff soar potentially threatens a considerable sector of America’s access to the biggest Asian market for American beef overall, as Donald Trump is doing his best to expand US exports to Japan. The previous year US frozen beef exports to Japan accounted for more han $400 million.
The tariff hike will heavily affect gyudon beef bowl restaurants, greatly relying on American frozen beef cuts as a major ingredient.
Japanese Finance Minister Taro Aso added that Japan’s authorities have been contacting affected nations, including the USA just to explain the measure.
The US CPI will come out on Wednesday, May 11, at 15:30 MT time (GMT+3).
Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.