“I felt a wonderful dialogue was building up between you and me, and, ultimately, it is the only dialogue that matters”. Trump’s letter to the North Korean leader cancelling their long-awaited rendezvous at times reads more like a Dear John letter than official correspondence to the world’s biggest nuclear threat. While no one should be that surprised Trump has pulled out (think NAFTA, the TPP and the Iran nuclear deal) it nicely complements the administration’s less predictable act of brinksmanship this week – an investigation into car imports from South Korea, Japan and Europe which seem likely to result in even more tariffs.
Elsewhere, the ONS has added more uncertainty to the path of UK interest rates by announcing that inflation fell unexpectedly to 2.4 percent in April, causing the pound to plummet to its lowest level this year. While the impact of the Brexit vote on inflation seems to have finally dissipated, the impact on national defence is less clear, with the UK and EU this week trading strong threats over post-Brexit arrangements in the areas of space and security.
Read what the team at FE consider to be significant over the current week.