09 December 2019
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Uncertain outlook for the global economy as trade issues still dominate

Despite positive jobs data, Donald Trumps lack of haste over a trade deal is unsettling for the markets


By Emirates NBD Research


A week that started with bad news over trade ended more positively with evidence the US economy, in particular the labour market, is in better-than-expected shape as the end of the year approaches.

With other news containing more disappointments than positives, however, the outlook for 2020 looks no less certain than it has been through most of 2019.

Trade issues once again returned to the surface over the UAE’s long weekend, with US President Donald Trump restoring tariffs on steel and aluminium exports from Brazil and Argentina and threatening tariffs on $2.4 billion (Dh8.81bn) of luxury products from France. The latter was in addition to other tariffs proposed on a broader range of European Union exports to the US.


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Emirates NBD Research Research Analyst

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