Global economic recovery is gaining momentum but could be cut off by a “sword of protectionism” now threatening global trade, International Monetary Fund Managing Director Christine Lagarde said. Her prepared remarks did not specifically mention U.S. President Donald Trump’s “America First” trade agenda that aims to restrict imports into the United States. Source Reuters
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A new pipeline from Russia’s Arctic fields to Germany will boost Moscow’s share of the European gas market despite competition from Qatar and the United States, and will also mean much less fuel goes via Ukraine, Russian gas monopoly Gazprom said. Source Reuters
Retailers are filing for bankruptcy at a record rate as they try to cope with the rapid acceleration of online shopping. In a little over three months, 14 chains have announced they will seek court protection, according to an analysis by S&P Global Market Intelligence, almost surpassing all of 2016. Source Bloomberg
The United States has fired the opening shot in a latest softwood-lumber war against Canada, with the Trump administration announcing its first batch of duties on imported wood in the neighbourhood of 20%. Source Toronto Sun