The Trump administration has imposed a 30% tariff on imported solar panels, which are made mostly in China, and a range of tariffs starting at 20% on large washing machines designed for home use. The action comes after the US International Trade Commission determined US businesses were being hurt by imported solar panels and washers. CNNMoney (22 Jan.)
Eurogroup President Mario Centeno has invited nominations to replace European Central Bank Vice President Vitor Constancio, who is approaching the end of his term, creating the first in a series of vacancies among the highest-ranking positions in the ECB. Spanish Economy Minister Luis de Guindos is the only announced candidate for the ECB vice president's job. Reuters (22 Jan.)
US tax cuts will briefly accelerate growth of the global economy but benefits will be short-lived, the International Monetary Fund says in a report presented at the World Economic Forum. The IMF raised its global growth forecast to 3.9% for this year and 2019. Reuters (22 Jan.)
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