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As US officials ramp up pressure, Chinese trade negotiators led by Liu He, China’s vice premier, are expected in Washington on Thursday and Friday. Pictured: Liu He (on left) is seen during a meeting with Donald Trump at the White House, 4 April 2019. Image: White House/Shealah Craighead 

Critical week for China-US trade talks

Financial markets were rattled by Donald Trump’s threat to double tariffs on $200bn worth of Chinese goods if a deal is not struck by Friday, reported the AFP, Financial Times and South China Morning Post. The US accused China of reneging on promises made in previous trade talks, but said an agreement was still possible when negotiations continue in Washington this week, reported the BBC, Financial Times and Reuters. Beijing said it hoped to reach a “win-win agreement”.

ArcelorMittal reduces production in Europe

The world’s largest steelmaker, ArcelorMittal, said it would cut back European production by three million tonnes, including the temporary shutdown of a plant in Poland and reduced output in Spain. It cited weak demand and high energy costs. Reported by the Economic Times, Financial Times and Seeking Alpha.

Germany joining space mining race

Berlin is drafting its own space resources law to compete with China, Luxembourg and the US, according to Reuters.

Altice refinancing bonds to save company €110m annually

The telecoms and cable group Altice said its Luxembourg unit sold €2.8bn in bonds, in an offering that was oversubscribed, that will refinance existing debt, reported Reuters.

Kraft Heinz to restate earnings after accounting probe

The food giant Kraft Heinz said it would restate earnings for 2016, 2017 and part of 2018 after discovering employee misconduct, reported Bloomberg, CNBC and the Financial Times. The company said senior management was not involved.

US deploys aircraft carrier in warning to Iran

The US ordered an aircraft carrier group and bomber task force to the Middle East “to send a clear and unmistakeable message to the Iranian regime” in response to an unspecified “credible threat”, reported the BBC, Guardian and Reuters.

Istanbul mayor vote annulled

Turkey’s electoral authority has ordered a re-run of the Istanbul mayoral election, which was won by the opposition CHP party in March, after complaints from the ruling AKP party. The AKP alleged “irregularities and corruption”; the CHP called the moved “plain dictatorship”. Reported by the BBC, DW and France 24.

Brunei reverse course on death penalty

The sultan of Brunei said his country would suspend a death-by-stoning law for gay sex and adultery after facing an international backlash. Reported by the AFP, DW and NPR.

Trusting social media survey

British, Americans and Germans trusted social media the least in an international survey, per the Guardian. Indians, Saudis and Thais had the highest trust levels: 52%.

Later today

12:15pm: The University of Luxembourg hosts a lunchtime seminar entitled “Hate Speech and Fake News: Democracy and its Freedoms at Risk?” in Kirchberg. 6pm: The Luxembourg School of Business hosts an informational event on its weekend MBA programme.

Looking ahead

Wednesday 8 May: Jonk Entrepreneuren Luxembourg hosts the finale of the “My First Enterprise” contest for teens at 5pm. Thursday 9 May: The European Council will hold its first official meeting without the UK; the “Future of Europesummit takes place in Sibiu, Romania, on Europe DayFriday 10 May: Luxembourg and the US will sign a space cooperation agreement.

Royal baby born

Meghan Markle has given birth to a baby boy, who is seventh in line to the British crown. Prince Harry‎ said the couple have not yet decided on his name, and that his son and wife were doing “incredibly well”. Reported by the BBC, Buzzfeed News and People.

Today’s breakfast briefing was written by Aaron Grunwald