The G7 summit in May (In the run-up to the Hiroshima Summit), movements centered on the United States have intensified, such as the tightening of the embargo on Russia and measures to curb investment in China. 20 major countries/regions where opinions do not come together (G20) As it continues to be impossible to make a statement at the meeting, it is questionable whether Prime Minister Fumio Kishida, who will chair the G7 summit, which has been reinstated, will be able to take the initiative. Here are five news items to keep in mind as you start your day.
Is there a total embargo?
Some major countries supporting Ukraine, such as the United States,The company is considering a near-total ban on exports to Russia. This was confirmed by several people familiar with the matter. G7 officials are discussing a near-total ban on exports to Russia ahead of the Hiroshima summit in May. The proposal would completely ban exports to Russia unless an exception is made, and if implemented, would completely change the existing sanctions against Russia. Agricultural products, including food, are very likely to be exempt, as well as pharmaceuticals, he said.
Central investment restraint policy
U.S. President Biden aims to sign an executive order restricting U.S. investment in key sectors of China’s economy within weeks. This was confirmed by several people familiar with the matter. The Biden administration has been negotiating the move for almost two years. It plans to take action before the Hiroshima summit and has informed other G7 members about the investment restraint measures, the people said. He said he hopes to win support at the conference, but does not expect other countries to announce similar restrictions at the same time.
Weak U.S. economic data
In the United States, the number of initial unemployment claims increased last week.of unemployment insuranceThe number of continuous beneficiaries (week ending 8th) was 1,865,000, the highest level since November 2021, suggesting a slight softening in the labor market.On the other hand, in MarchSecond-hand home sales fell more than expected. February saw a significant increase. Although there are some signs of stabilization in the housing market, it has become apparent that the pace of recovery is still unstable. Existing home prices fell the most since January 2012.
explosion in the sky
US space development company SpaceX, led by Elon Musk, is developing a large rocket “Starship launched from a facility in Texas. A few minutes after launch, the rocket exploded in the sky. Minutes after launch, the super-heavy booster failed to detach, leading to a “rapid and unplanned disassembly”. The company suggested that the test flight could still yield valuable information and that a simple launch could be considered a success. Shortly after the explosion, Mr. Musk tweeted that the next test flight would take place “in a few months.”
one more time
Cleveland Fed’sGovernor Mester signaled on Thursday that he would support one more rate hike to curb inflation. On the other hand, he said the recent stress in the banking sector could hamper credit and slow the economy, and called for a close watch on the banking environment. “I do see monetary policy needing to go somewhat further into constraining territory this year. It is.”
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