US Import and Export prices jumped more than expected in August - both rising 0.6% MoM, the biggest rise since June 2016.
A 4.8% MoM spike in Petroleum drove the import surge and the rise in Industrial Supplies' costs sent Export prices higher.
Year-over-year, both import and export prices are rising faster than The Fed's 2% mandate...
US Commerce Secretary Wilbur Ross announced Tuesday that he had reached “an agreement in principle” with his Mexican counterpart, Economy Minister Ildefonso Guajardo, on a new trade deal governing the trade of raw and refined sugar between the US and Mexico.
There’s only one problem: The US sugar industry has said it’s unable to support the agreement in its current form, according to Reuters.
Ross said that Mexico met nearly every request by the US sugar industry to fix problems with a 2014 sugar trade agreement.