U.S. President Donald Trump, helped by a near-extinction of fiscal hawks on Capitol Hill, has approved budgets and tax cuts amounting to the biggest stimulus (excluding recessions) in a half-century. Democrats point to what they consider a traditional Republican aversion to major social program spending when complaining that the current largesse mostly benefits corporations and the rich. —David E. Rovella Here are today's top storiesThe U.S. and Canada reworked the terms of Nafta with modest revisions in a last minute deal. U.S. steel and aluminum tariffs, however, remain. Trump administration trade policy is what a plurality of U.S. business economists say will help trigger a recession by the end of 2020. Those dark clouds Christine Lagarde saw on the horizon? They've arrived, the IMF chief says, on a stiff wind generated by the global trade war. For his part, Trump on Monday called tariff opponents "babies." His comment came at a Nafta press conference where he also insulted a female reporter, saying she "never" thinks. The reporter had asked about the FBI's sexual assault probe of Supreme Court nominee Brett Kavanaugh, which the White House initially limited to four witnesses. Trump said he's doing what Senate Republicans asked. Regulators ordered more checks on some Boeing 737 engines after an exploding turbine on a Southwest flight killed a passenger earlier this year. General Electric pushed out its CEO as the company struggles to reverse course. Since 2000, the iconic firm has seen its value fall $500 billion. What's Joe Weisenthal thinking about? The Bloomberg news director is mulling whether the relationship between the exploding U.S. budget deficit, gross domestic product and unemployment is breaking. What you'll need to know tomorrowAsian automakers are taking over the sedan.Theresa May has a new Ireland strategy to help forge a Brexit deal.The world isn't making enough batteries right now.It would be nice, though, if more batteries looked like this.Canada's biggest infrastructure project is all about gas.Your success in the stock market may depend on your politics.This is the U.S. state with the best economy since Trump took office. Sponsored Content by Milliman It’s been a long time since innovation and insurance were mentioned in the same breath. But that’s about to change. See how Milliman is helping drive the insurtech revolution. What you'll want to read tonightAt a private party in Paris, Infiniti unveiled the Project Black S prototype, a 563-horsepower beast with a hybrid electric powertrain developed by a Formula One team. Here's your ticket to peek under the hood. Have you started strategizing for 2019? We have. Don’t miss the annual Bloomberg Businessweek special report, The Year Ahead, on the major trends, disruptions, breakthrough products, innovations and movements to watch in the coming year. Get Bloomberg All Access in time to receive this issue in print and much more. Join the smartest minds in tech & investing at Bloomberg's Sooner Than You Think, a special event on Oct. 16 at The William Vale in NYC. Learn how artificial intelligence, cryptocurrency, and blockchain are reshaping how we spend, save and invest. Register now and get 35 percent off the ticket price with registration code NEWSLETTER. Download the Bloomberg app: It's available for iOS and Android. |