Tariff Countdown, Fed Minutes, Carney Hits Upbeat Note: Eco Day

(Bloomberg) -- Good morning Americas. Here's news and analysis from Bloomberg Economics to help get your Thursday started:

Tomorrow may see the world's two largest economies slide deeper into a trade conflict. If the U.S. begins imposing additional steep tariffs on Chinese imports as of Friday, then Beijing is poised to respond in kind. With further tit-for-tat levies already threatened, this week could mark the start of a new and dangerous phase.
The Federal Reserve is due to release minutes of its June 12-13 policy meeting later Thursday. A discussion about how high U.S. interest rates should go in this tightening cycle could feature prominently
The U.K. economy is showing signs of rebounding from a sluggish first quarter of the year, Bank of England Governor Mark Carney said Thursday, in comments that leave the door open to an interest-rate increase as early as next month
- It's not all good news though, with Carney also saying that the global economy has already taken a hit from rising trade tensions
Some ECB policy makers are uneasy that investors aren't betting on an interest-rate hike until the end of 2019
German factory orders surged in May, ending a string of declines and suggesting a much-awaited pick-up in growth momentum in Europe's largest economy
Southeast Asia's central bankers are taking different policy stances even as their economies get slammed by the same headwinds
Finally, read how the trade war between the U.S. and China reflects an escalating economic and military rivalry between a status quo power and one of the most remarkable growth miracles in history

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Marco Bertacche

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