(Bloomberg) -- Good morning Americas. Here’s news from Bloomberg Economics to help get your Friday started.

  • President Donald Trump dealt a double blow to U.K. Prime Minister Theresa May, saying her plans for a soft Brexit would likely end hopes of a trade deal with the U.S.
  • China’s monthly trade surplus with the U.S. rose to a record in June and exports to America also soared, underlining the cause of an escalating trade war between the world’s two largest economies
  • That data comes as the U.S. and China signaled they were open to resuming negotiations over trade after days of exchanging retaliatory threats, though Treasury Secretary Steven Mnuchin said Beijing must commit to deeper economic reforms
  • The ECB is on the road to removing monetary stimulus. Click here for a timeline of what’s happened and what’s next
  • The stage seems set for the Reserve Bank of India to deliver another hike in interest rates. Reason -- retail inflation accelerating to a five-month high
  • The World Cup has left Croatia brimming with confidence, and its leaders think it’s time for the European Union’s newest member to take a step up on the global stage as well
    • Meanwhile, we take a look at how the the economies of the two World Cup finalists match up
  • Finally, here’s everything you need to know about the global economy this week

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net

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