China Trade Talks Resume, and the Fed Chairman Will Speak

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China Trade Talks Resume, and the Fed Chairman Will Speak

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The Week Ahead

Reports will show whether the housing market continued to slow in July, and Greece officially ends its reliance on financial bailouts.

Jerome Powell, the chairman of the Federal Reserve, will speak at an economic gathering in Wyoming on Thursday.CreditYuri Gripas/Reuters

Here’s what to expect in the week ahead:

Trade

Hearings, new tariffs and trade talks with China.

The United States trade representative will on Monday begin six days of hearings, during which up to 370 witnesses will weigh in on the administration’s plan to place tariffs on an additional $200 billion of Chinese goods. Those hearings will run through the following Monday.

Tariffs on $16 billion of Chinese goods will go into effect on Thursday, ratcheting up the price of chemicals, seafood and other goods imported from China. The measures follow tariffs on $34 billion of Chinese goods that the Trump administration imposed in July.

And after a monthslong hiatus, the United States will resume trade talks with China on Wednesday and Thursday, when the Chinese vice minister of finance, Liao Min, meets with David R. Malpass, the American under secretary for international affairs at the Treasury Department. European officials are also expected to be in Washington this week to begin exploratory talks over a potential trade agreement with the Trump administration.

— Ana Swanson


ECONOMY

Greece will end a bailout program begun during the debt crisis.

Greece will reach a milestone Monday in the recovery from one of the worst financial crises to hit Europe, when the country officially ends its reliance on nearly a decade of financial bailouts that totaled over 320 billion euros, or about $360 billion. European leaders are declaring an end to a debt crisis that nearly destroyed the euro, and Greece is anticipating a new era of financial independence and growth. But years of harsh austerity and a downturn reminiscent of the Great Depression have left a legacy of poverty that now affects a third of the Greek population. While growth is slowly reviving, it will most likely be years before Greece’s economy returns to normal.

— Liz Alderman


Trade

The commerce secretary will visit Kentucky to extol tariffs’ benefits.

Wilbur Ross, the commerce secretary, will head to Kentucky on Wednesday for the ceremonial restart of an aluminum smelter. The Trump administration has been under fire from American allies and many companies for imposing tariffs on steel and aluminum imports. The visit by Mr. Ross to Century Aluminum, which plans to ramp up its production this year, is meant to underscore an example a struggling industry that the tariffs have helped get back on its feet.

— Alan Rappeport


Economy

Home sales may be slowing.

The rebound of the housing market has hit a rocky patch recently, with both sales and construction activity slowing down. Economists have generally attributed the declines to supply constraints: Not enough homes are for sale, and zoning rules, among other factors, make it hard to build new ones. But lately, there have been hints that demand may be cooling as well. The real estate site Zillow recently reported that more sellers are cutting prices, and measures of sentiment among builders and sellers have been weakening. Two reports this week will help show whether the housing market continued to weaken in July. On Wednesday, the National Association of Realtors will release data on sales of previously owned homes. On Thursday, the Census Bureau will release its estimate of new home sales. Economists expect both reports to show a modest increase.

— Ben Casselman



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