Brexit trade deal: US lays out 'wish list' and it does not look good for the UK

Donald Trump's administration wants to scrap a host of EU rules on food safety, chemicals, animal welfare and the environment
The US has laid out its annual trade “wishlist” and it will not make easy reading for David Davis and Liam Fox’s team of negotiators.
The 500-page tome from the US Trade Representative published this week firmly espouses the virtues of free trade and bringing down tariff and non-tariff barriers, just as Donald Trump proposed slapping a further $100bn (£71.5bn) of import levies on Chinese goods.
This openness might sound good for “Global Britain” as it seeks trade partnerships beyond the EU post-Brexit but it’s a little more complicated than that.
Read more China vows to fight 'at any cost' as Trump threatens $100bn tariffs The first concern stressed by the USTR is the “increasingly critical nature of standards-related measures (including testing, labeling and certification requirements) and sanitary and phytosanitary (SPS) measures to US tr..

US falls short of expectations adding only 103,000 jobs in March

The unemployment rate stayed flat in March, while job additions widely missed the mark
The US added 103,000 new jobs in March, according to the latest non-farm payroll figures.
Ahead of the data release, Wall Street was looking for growth of about 185,000 and a decline in the unemployment rate to 4 per cent from 4.1 per cent. Unemployement held at 4.1 per cent, the numbers showed.
In February, the US added 313,000 jobs, smashing through expectations of 200,000.
The pound rose sharply against the dollar following the announcement.
Naeem Aslam, chief market analyst at Think Markets, said the jobs number was a “big miss”.
“The market reaction is adverse and gold has moved higher on the back of this. Today’s data is not something which Trump will be tweeting about,” he added.
However, Kully Samra, UK managing director at investment group Charles Schwab, said: “This is a healthy jobs report, reinforcing the view that the US economy shows few signs of slowing down. Risks to growth a..

China Isn’t Happy About Its Newest Internet Stars: Teenage Moms

China Isn’t Happy About Its Newest Internet Stars: Teenage Moms Photo The Beijing headquarters of the company that operates Kuaishou, one of China’s most popular video platforms. Kuaishou was pulled from app stores this week after the state broadcaster CCTV accused it of promoting underage pregnancy. Credit Imagechina, via Associated Press BEIJING — It was not Yang Qingning’s millions of social media followers or her political beliefs that made the young woman the scorn of Chinese state media recently.
It was her tiny baby.
Two of China’s most popular video platforms disappeared from app stores this week after the state broadcaster CCTV accused them of promoting underage pregnancy. A segment last week on CCTV featured what it said were teenage women whose videos — chronicling the joys and tribulations of motherhood, complete with images of swollen bellies — had attracted millions of followers and viewers. A stern but unspecific rebuke from China’s top media regulator followed a few day..

Britain's sugar tax is a sweet idea

Free market think tanks and the food industry may grouse, but similar measures have reaped benefits when they've been tried overseas and they don't 'clobber the poor'
Welcome to the first day of the sugar tax, a sweet idea despite the bitter taste its opponents have been trying to leave.
An example of the latter came from the Institute of Economic Affairs. “The sugar levy is a cynical revenue raising device that will clobber people on low incomes,” it growled. “The British public are being treated like children.” If you think you can hear cheering in the background it's probably from the food and retail industries.
It always rather amuses me when Thatcherite think tanks try and portray themselves as defenders of the poor, but does the IEA have a point? Particularly when it contends that while the consumption of sugary drinks has been falling, obesity has not?
Read more Sugar tax: the soft drinks that slashed their sugar ahead of the levy How meal deals..

DealBook Briefing: How Hot Could the U.S.-China Trade Fight Get?

Supported by DealBook Briefing: How Hot Could the U.S.-China Trade Fight Get? Photo Credit Tom Brenner/The New York Times Good Friday morning. The U.S.-China trade fight is getting hotter (with Beijing’s commerce ministry expected to hold a briefing this morning). Some links require subscriptions.
Consider the ante raisedWas tariffs on $50 billion worth of Chinese goods not enough? President Trump appears to think so, announcing that he’s considering tariffs on $100 billion more because of Beijing’s “unfair retaliation.” A bluff? Even his advisers aren’t sure.
Expect the White House to keep negotiating with China, especially since U.S. tariffs wouldn’t bite until after a two-month comment period. But China has reasons to think it could win a trade war.
More companies, like Cargill, are getting jumpy. Some fear the tensions could kill Qualcomm’s bid for NXP Semiconductor. Jacob Frenkel, the chairman of JPMorgan Chase’s international business, is worried, too: He said the hostilitie..

Park Geun-hye, South Korea’s Ousted President, Gets 24 Years in Prison

Park Geun-hye, South Korea’s Ousted President, Gets 24 Years in Prison Photo Supporters of former President Park Geun-hye of South Korea calling for her release on Friday, near the courthouse in Seoul where she was sentenced. Credit Ahn Young-Joon/Associated Press SEOUL, South Korea — Park Geun-hye, South Korea’s impeached and ousted president, was sentenced on Friday to 24 years in prison on a variety of criminal charges, in a case that exposed the entrenched, collusive ties between South Korea’s government and huge conglomerates like Samsung.
A three-judge panel at the Seoul Central District Court also ordered Ms. Park to pay $17 million in fines, in a ruling that marked a climactic moment in an influence-peddling scandal that shook the country’s political and business worlds.
Ms. Park’s conviction on bribery, coercion, abuse of power and other charges was the first lower-court ruling on a criminal case to be broadcast live in South Korea. She is the country’s first former leader to ..