Although the more extreme warnings about the short-term impact of a “no-deal” Brexit on the economy are overdone, there is little doubt that it could deal a reasonable blow to GDP growth next year.

Preliminary PMIs for July fell but remain consistent with GDP expanding at a decent pace in advanced economies. The surveys also point to growing price pressures and slower world trade growth.

The UK Government’s Chequers proposals are still broadly intact following a tumultuous week in Parliament. The Prime Minister suggested that the proposals would also solve the Northern Ireland border...

The EU’s and, particularly, Germany’s trade practices have been criticised heavily by President Trump, prompting him in early July to label the trade bloc “as bad as China”. However, from a global...