Emerging-market investors will be gauging the effect of a possible trade war after President Donald Trump revealed his tariff plans. They will also be dissecting the U.S. inflation figures for clues on the Federal Reserve’s rate-hike path.

Below are some of the events and issues likely to dominate trading in the coming days:

Trade and Tariffs

Russia releases January trade data amid concern the country could be among the most affected by U.S. tariffs. Shares of Russian metals companies tumbled in Moscow last week after Trump decided to impose levies on steel and aluminum.

Keeping China Growing

In China, the second week of the National People’s Congress may bring the announcement of a new head for the central bank, who will take on the task of keeping the economy growing while defusing debt risks and steering monetary policy. People’s Bank of China Governor Zhou Xiaochuan, who is due to retire soon, said last week that market access reforms should be accelerated, and that China “can be bolder in opening up.”

China also reports monthly retail sales, industrial production and fixed assets.

Indian Inflation

India on Monday unveils inflation data that will dictate the trajectory of interest rates. The yield on 10-year Indian government bonds fell last week after three weeks of gains.

Peruvian Politics

Peru’s politicians may try again to impeach the president.

President Pedro Pablo Kuczynski testifies before a congressional committee investigating the so-called Carwash bribery scandal on Friday, after which lawmakers may reopen an impeachment debate. The last time Kuczynski’s ouster looked likely, Peruvian bonds swooned and the sol traded at a record low. — Bloomberg

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