In this briefing:
1. UK Politics: Showdown Postponed Again
- The 27 February sitting of UK political theatre now looks set to be a damp squib, with the main parliamentary clashes postponed to March.
- The “meaningful vote” on the government’s tweaked Brexit deal is scheduled for 12 March. If a proper state-dependent break clause is contained in a codicil, it may pass. Otherwise, an extension request is likely to be approved on 14 March.
- A short delay might become a long one and no Brexit. New government scheduling and Labour positioning slightly shift my probabilities of a deal, no deal, and no Brexit from 55:30:15 to 55:25:20. No deal remains the default even if delayed.
2. Flash During Trade Talks
So we hear that President Trump may be doing something in Vietnam prior to the March 1 trade deadline. Even though Trump tweeted the tariffs will not be implemented on March 1, you can be sure that negotiations are still going at full speed. However, in the shadow of trade talks we are looking at China’s Flash numbers as an indicator of economic health.
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