In the US new tariffs on Chinese imports kicked in over the weekend, with the usual accompanying notes from the US President via Twitter. It happens as consumer sentiment falls sharply. Phil Dobbie talks to NAB’s Rodrigo Catril about the impact on US manufacturing and rate cuts by the Fed. Meanwhile, the Europe has been hit by uncertainty (already) from the new Italian coalition government, whilst the pound reflects a shaky week for Brexit. There’s more data contributing to Australia’s GDP numbers today Q2 and the Caixin manufacturing PMI for China, whilst the US takes the day off.