Earlier this month GM agreed on the bailout package with the South Korean government in return for a pledge to stay in the country for at least 10 years, purchase more Korean-made parts and produce two new models popular in the U.S. market.
But less than two weeks later, the Trump administration launched a national security investigation into car and component imports that could lead to new U.S. tariffs similar to those imposed on imported steel and aluminum in March.
Italy successfully sold five- and 10-year debt at an auction, bringing some relief to jittery markets following this week’s meltdown in the nation’s bonds amid a political crisis.
Both auctions were oversubscribed by investors, buoyed by large reinvestment flows from a bond maturing later this week. Still, the pricing of the longer-dated note showed signs of the pessimism that has battered the market this week. The average sale price on the 10-year bond was 25 cents below the secondary-market level just before the bidding deadline. A similar gauge for the five-year one was 24 cents higher.
The Federal Reserve Board, now led by Trump appointees, will meet Wednesday to start rolling back the Volcker Rule, a regulation that was key to Washington’s efforts to make the industry safer following the 2008 meltdown
A U.S. advance team landed in Beijing Wednesday to prepare for Commerce Secretary Wilbur Ross’s arrival Saturday, according to people with knowledge of the matter from both governments. But they say the surprise U.S. decision a day earlier to move forward with tariffs against China—less than two weeks after both sides declared a truce—is casting doubt over whether those talks can advance to the next level.
Kim Kardashian will visit the White House on Wednesday for a meeting with President Trump and Jared Kushner to discuss prison reform, according to a published report.