Economic policy

Trump's cooler trade war

Photo: Saul Loeb/AFP/Getty Images

Friday marked a cool down on the non-China trade war front, providing a glimmer of hope that the global economy can avoid the worst-case scenario of global trade wars.

Driving the news: The White House delayed its auto import tariffs for 6 months, which would have hit Japan and Europe especially hard. The U.S. is also preparing to lift its steel and aluminum tariffs that Trump imposed on Mexico and Canada. The three will focus on preventing cheap imports to North America, the U.S. and Canada said in a joint statement.

Cuba blames U.S. embargo for struggling economy, but Venezuela plays a role

Cuban and American flags
Photo: Marcos Radicella/Getty Images

The Cuban government announced on Friday it will begin rationing some food and other basic products as the nation copes with challenging economic circumstances, reports AP.

Why this matters: Commerce Minister Betsy Díaz Velázquez attributes the shortage of rice, beans, chicken, affordable soap and other basic products to the the U.S. trade embargo executed by the Trump administration, but economists also blame the loss of aid from Venezuela, per AP. More expensive goods are not included in the rationing.

Go deeper: Trump's tighter Cuba policies aim at Florida but could upset allies