#MarketRebound
TRADE HEADLINES!
POST NY CLOSE
-> President Trump says that 90 countries have called to discuss trade and tariffs so far
-> Trump says 145% China tariff is "very high". He mentions China's fentynal production specifically. "China isn't doing any business with the US right now. "I'm hoping we make a deal, but if not, we (i.e. US) will set the price."
-> Countries & businesses that do not make a deal with the US will have their tariff rate set by the US over the next 2-3 weeks
-> Trump to Exempt Car Parts From Tariffs on China Imports (FT)
DURING US MARKET TRADING
WSJ reported that Trump administration is considering slashing the steep tariffs on China to between 50-65%
-> Treasury Secretary Bessent later clarified that there is no unilateral offer to cut China tariffs
-> Treasury Secretary Bessent: Trump administration is looking at multiple factors, like non-tariff barriers, government subsidies, and tariffs, with regard to China. A full rebalancing of US/China trade might take 2-3 years.
