AMERICAS FRIDAYS

GEOPOLITICAL RISK+GLOBAL MARKETS

US-AMERICAS | GEOPOLITICAL RISK

Trump to Invite Putin to the White House, but Much of Their Last Meeting Is Still a Mystery -NYT

Russia sanctions bill gains bipartisan traction in Senate Sens. Marco Rubio (R-Fla.) and Chris Van Hollen (D-Md.) are stepping up a push for action on their bipartisan proposal to hit Russia with automatic new sanctions if it interferes in future U.S. elections. -Politico

Diplomatic niceties can blur the lines of personal and national interests Civilian and military leaders in the Department of Defense, the State Department and the National Security Council certainly have no illusions about the nature of the threats posed by those two governments to American national interests. -The Hill

Silence from the Party When will Republicans stand up to Trump’s foreign policy blundering? -The American Interest

As new tariffs take hold, more see negative than positive impact for the U.S. -Pew Research Center

Overall, nearly half (49%) of U.S. adults say increased tariffs between the U.S. and its trading partners will be bad for the country. A smaller share (40%) say the tariffs will be good for the U.S., while 11% say they don’t know how the tariffs will affect the country.

How to rescue the WTO President Donald Trump has circumvented the WTO to impose tariffs on steel and aluminium imports, including those from America’s allies. Complaining of unfair treatment, the administration is blocking nominations to seats on the WTO’s appellate body, which could leave it unable to hear cases after 2019. Most ominously, America is embroiled in a trade war with China. Both sides have imposed tariffs on goods worth tens of billions of dollars and are threatening worse -The Economist

Trump ready to put tariffs on $500 billion of Chinese imports, CNBC reports U.S. President Donald Trump on Friday said he was poised to impose tariffs on $500 billion of goods from China, threatening in an interview with CNBC to escalate the current trade clash with the Asian nation. -Reuters

Trump’s Damage to International Trade Will Take Years to Repair -Bloomberg

US-AMERICAS | MARKETS IMPACT+OPPORTUNITY

GLOBAL BUSINESS

How Trump’s Tariffs Tripped Up Alcoa Alcoa, the 130-year-old aluminum producer, said on Wednesday that the Trump administration’s aluminum tariffs, imposed at the beginning of June, were adding to its costs. That, in part, prompted the company to lower an earnings forecast. Alcoa’s shares slid 13 percent on Thursday. -NYT

Trump meets with drug giant's CEO as part of price squeeze -Politico

WhatsApp will drastically limit forwarding across the globe to stop the spread of fake news, following violence in India and Myanmar The social messaging service has been blamed for its role in spreading dangerous and inaccurate information. -Recode

Privacy failings by WhatsApp, Signal and others highlight the need to take back our privacy The fact is, while many of these communication apps and social networking services that we use on a daily basis are “free,” they aren’t, because we are paying with our privacy. If you think that consumers are generally indifferent about their privacy or personal data, ask your colleague or boss for the passcode to unlock his or her phone, Google account, or Facebook page, or perhaps offer yours to someone else. Just because you haven’t done something wrong, or you’re not hiding anything, doesn’t make it right. -The Hill

PODCAST OF THE WEEK Your phone is not secretly spying on your conversations. It doesn’t need to. -Recode

Chinese Shopping App Pinduoduo Sued in U.S. Ahead of I.P.O. Lawyers for Daddy’s Choice say in the complaint that they filed the suit in New York because American consumers are able to buy from Pinduoduo, and because Daddy’s Choice has spent considerably to build its brand in the United States. Pinduoduo declined to comment. -NYT  

GLOBAL MACRO

Trump Blasts Powell’s Rate Hikes, Trespassing on Fed’s Independence President Donald Trump criticized the Federal Reserve’s interest-rate increases, breaking with more than two decades of White House tradition of avoiding comments on monetary policy out of respect for the independence of the U.S. central bank. -Bloomberg

Trump comments cut the dollar's rally short The dollar held below a one-year high on Friday as the latest comments from U.S. President Donald Trump spurred investors to take profits after a recent rally, while a weakening Chinese yuan capped risk appetite. -Reuters

The $20 Billion Question for Guyana This largely underdeveloped country on South America’s northern Atlantic coast is the unlikely setting for the world’s next big oil boom. But is it ready to handle the riches? -NYT