– A new trade deal between the US and Japan includes an exception from Section 232 tariffs on autos, generating a competitive advantage for Japanese automakers and setting the scene for further deals. The framework deal with Indonesia shows transshipment/rules-of-origin rules have yet to be nailed down and remain a key area of uncertainty.

– Consumer goods are in focus this week as retailers in the US and EU close in on their peak selling season. US retailers are at the end of inventory management tactics and now moving into pricing and cost tactics, while EU retail...