Elections, Tariffs, Economic Indicators, and Defense Cooperation

Main image to the post Elections, Tariffs, Economic Indicators, and Defense Cooperation

Iran is preparing for a presidential election on June 28th, following the death of Ebrahim Raisi in a helicopter crash last month. The Guardian Council will announce the candidates vying for the presidency, with notable figures including Mohammad Bagher Qalibaf, Mahmoud Ahmadinejad, and Ali Larijani.

Meanwhile, a European anti-subsidy probe concerning Chinese electric vehicles is nearing its conclusion. This probe could result in new tariffs on Chinese EVs, driven by Western concerns about cheap exports flooding their markets. A decision is expected this week, potentially as early as Monday.

China will release inflation data for May on Wednesday, offering insights into the domestic consumer market. The reading has been on an upward trend for three consecutive months, alleviating concerns about deflationary pressure. However, lingering doubts about consumer confidence persist amidst a prolonged property crisis.

The U.S. and Japan will hold their inaugural Defense Industrial Cooperation, Acquisition, and Sustainment Forum (DICAS) meeting in Tokyo. This forum will bring together representatives from American and Japanese defense contractors to discuss collaboration on missile production and ship repair.

The U.S. and South Korea will convene for the third meeting of the Nuclear Consultative Group (NCG) in Seoul. This meeting aims to further strengthen deterrence against North Korea's nuclear threat. The NCG was established under the Washington Declaration, which led to the historic visit of the USS Kentucky, an Ohio-class nuclear ballistic missile submarine, to Busan last June.

Pakistan's central bank is anticipated to cut its key interest rate by 100 basis points (1%) after maintaining it at a record 22% for seven consecutive policy meetings. This decision follows Pakistan's lowest inflation reading in 30 months, recorded at 11.8% in May. Pakistan's annual budget will also be announced this week.

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Round userpic of the post author Martin L King
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May 21, 2023 | 05:09