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Trump’s trade demands add to May’s Brexit woes
“While the U.S. president continues to talk up the prospects of a ‘great’ trade deal with the U.K. once it leaves the European Union, officials in Washington say the U.K. must leave open the prospect of deregulation once it’s out of the EU in order to make the most of a deal with America.”

U.S., EU still in “exploratory” talks on limited trade agreement
“‘We haven’t started any negotiations yet. People are talking to each other and we will have a new meeting in November,’ Malmstrom said.”

Medical devices emerge as low-hanging fruit in EU-U.S. trade talks
“Last July, Juncker and Trump said that the EU and the US would work to reduce barriers and increase trade in services, chemicals, pharmaceuticals and medical products. EU officials explained that the regulatory convergence with some products would not require a negotiating mandate from member states as it would be made on a voluntary basis between the two sides.”

Britain gets second EU warning over lost revenues on China imports
“The imports were declared at an artificially low value to reduce the level of customs duties raised, according to the Commission, with a resultant impact on the EU’s budget. Britain has said it does not accept liability for the alleged losses or recognise the estimate of alleged duty evaded.”
[The Edge Markets]

EU says cheap Argentine biodiesel subsidised but won’t impose tariffs for now
“The decision … comes as a major blow for European producers of fuels made from vegetable and recycled oil. They have been hit hard since the EU scrapped duties last year in response to a ruling by the World Trade Organisation. The Commission had been expected to reinstate provisional duties this month or in October and Argentine sales to the EU had stalled in anticipation.”

Middle East

Next wave of U.S. sanctions hits Iran on 4 November
“The European Union has failed to design a workable legal shield for its companies in Iran to beat the global reach of the U.S. financial system and defy President Trump, the diplomats say. Instead, Europe is engaging with Russia and China to show that it is at least searching for ways to ensure Tehran gets some benefits from its oil sales so Iranian President Hassan Rouhani has a reason to keep to the accord, according to seven European officials and diplomats.”

Turkey, Germany vow to boost economic ties
[Hurriyet Daily News]


Trump lands too late to spoil China’s Africa party
“Western governments have grown increasingly worried about so-called Chinese ‘debt diplomacy’ – offering African and other poor-country governments cheap loans for things they might not need or be able to afford, like shiny new railroads. Some of the loans, whose terms are often closely guarded secrets, are secured against minerals such as cobalt or iron ore.”