US equities have been knocked again because those increased tariffs from the US on Chinese imports are looking more likely than not. Phil Dobbie talks to NAB’s Tapas Strickland about a session that has seen a growing concern over trade. To add to the woes, the European Commission has downgraded forecasts again including a drastic cut for German growth. The Aussie dollar has lost the gains it made after the RBA kept rates on hold yesterday, but isn’t a cut just a matter of time? And does this mean the RBNZ is unlikely to cut today? Plus, the Tory backbenchers are planning a mutiny tonight. Will they change the rules to oust their Prime Minster?