(Bloomberg) -- Good morning, Europe. Here's the latest news from Bloomberg Economics:
- Germany's trade surplus is likely to stay large no matter how hard Donald Trump tries to make it disappear
- Progress stalled. Britain's productivity performance is the worst in three centuries, with no end in sight. Meanwhile, Britain's first female chief economic adviser in the Treasury – and the government's most senior economist – has a lot on her plate.
- Eye for an eye. China confirmed it will impose 25 percent tariffs on an additional $16 billion of U.S. imports from Aug. 23, matching an earlier move from Washington
- Also on China, factory inflation held up in July even as commodity prices eased, and consumer prices gained slightly more than expected. Bloomberg Economics expects a cooling economy to contain inflationary pressures overall
- Hike? What's that? In New Zealand, the central bank said it expects to keep interest rates at a record low for another two years as the outlook for economic growth weakens
To contact the reporter on this story: Enda Curran in Hong Kong at ecurran8@bloomberg.net
To contact the editors responsible for this story: Malcolm Scott at mscott23@bloomberg.net, Karthikeyan Sundaram, Tuhin Kar
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