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U.S. and China reach a consensus on trade
Posted on 6/10/25 at 8:11 pm
Posted on 6/10/25 at 8:11 pm
quote:CNBC
Lutnick said he and U.S. Trade Representative Jamieson Greer will head back to Washington, D.C., to “make sure President Trump approves” the framework. If Xi also approves it, then “we will implement the framework,” Lutnick said.
Chinese restrictions on rare-earth exports to the U.S. are a “fundamental part” of the latest agreement and the U.S. expects the issue “will be resolved in this framework implementation,” Lutnick said.
He indicated U.S. restrictions on sales of advanced tech to China in recent weeks would be rolled back as Beijing approves rare earths exports.
4
Posted on 6/10/25 at 8:16 pm to bigjoe1
We agreed to agree upon a new trade deal...
Posted on 6/10/25 at 8:20 pm to UltimaParadox
The devil will be in the details
AH markets are pretty flat to down.
AH markets are pretty flat to down.
This post was edited on 6/10/25 at 8:21 pm
Posted on 6/10/25 at 8:53 pm to bigjoe1
quote:
AH markets are pretty flat to down.
Because we have been down this road before in the past few weeks
Posted on 6/11/25 at 7:16 am to bigjoe1
Pre-approved for a new credit card
Posted on 6/11/25 at 7:46 am to VolSquatch
Trump says done deal though np details of the entire deal yet.
quote:
U.S. President Donald Trump Wednesday said that China will supply rare earths upfront to the U.S. as part of a trade agreement.
The relationship between the world’s two largest economies is “excellent,” Trump said in a post on Truth Social, while adding, “WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%.”
He added that full magnets and “any necessary rare earths” will be supplied up front by China and that the U.S. will in turn make certain concessions such as allowing Chinese students to attend U.S. colleges and universities.
The agreement is subject to final approval with himself and China President Xi Jinping, the White House leader said.
Representatives from both sides had on Tuesday revealed that a deal had been reached on trade after a second day of high-level talks in London.
“We have reached a framework to implement the Geneva consensus and the call between the two presidents,” U.S. Commerce Secretary Howard Lutnick told reporters.
Tensions escalated after China imposed export restrictions on several rare earth elements and magnets used by the automotive and defense sectors.
China is the undisputed leader of the critical minerals supply chain, producing roughly 60% of the world’s supply of rare earths and processing almost 90%, which means it is importing these materials from other countries and processing them.
U.S. officials have previously warned that this dominance poses a strategic challenge amid the pivot to more sustainable energy sources.
Oil prices popped on the news. International benchmark Brent crude futures with August delivery rose $1 a barrel to $67.87 shortly after Trump’s social media post.
The contract was last seen up around 1.5% for the session.U.S. West Texas Intermediate futures with July delivery, meanwhile, stood 1.8% higher at $66.14.
Posted on 6/11/25 at 7:51 am to UltimaParadox
And you are complaining just to complain. Dont you get tired of that?
Posted on 6/11/25 at 7:57 am to bigjoe1
I really do hope we end up on top here. Way to many things, like TT, prohibiting the banning of Chinese land ownership, etc that can be given to them.
Chaps my hide they have the upper hand on so many things because our "leaders" gave it all away, like our magnet tech. Thanks Clinton/Bush.
Just hoping this finally flips the power to us for sure, but don't have the confidence in that.
Chaps my hide they have the upper hand on so many things because our "leaders" gave it all away, like our magnet tech. Thanks Clinton/Bush.
Just hoping this finally flips the power to us for sure, but don't have the confidence in that.
Posted on 6/11/25 at 7:58 am to bigjoe1
What sort of guarantees do I have that this won't change in a month? Trump's word?
Posted on 6/11/25 at 8:27 am to BottomlandBrew
I want to buy so bad but I think the real damage will come when companies start announcing Q2 earnings in July and August
That’s when you will really see the pain from the tariffs
That’s when you will really see the pain from the tariffs
Posted on 6/11/25 at 9:24 am to BottomlandBrew
There will never be guarantees between China and the U.S. We just have to make a deal and hope for the best.
Posted on 6/11/25 at 9:27 am to JackDempsey
quote:This is the correct take.
There will never be guarantees between China and the U.S. We just have to make a deal and hope for the best.
Posted on 6/11/25 at 10:09 am to RoyalWe
I agree. Between Trump changing his mind at the drop of a hat and Xi encouraging industrial espionage and finding ways to cheat there are no guarantees of smooth sailing.
Posted on 6/11/25 at 10:58 am to BottomlandBrew
Lutnick ays tariffs won't change again.
quote:
Commerce Secretary Howard Lutnick said Wednesday that U.S. tariff levels on Chinese imports will not change from their current levels, even as a trade deal between Washington and Beijing has yet to be finalized.
Asked on CNBC’s “Money Movers” if the current U.S. tariffs on China are not going to change again, Lutnick replied, “You can definitely say that.”
President Donald Trump said in a Truth Social post Wednesday morning that U.S. duties on China will total 55% — but a White House official told CNBC soon after that that figure is not new.
Rather, it comprises the existing 30% blanket U.S. tariffs on China, plus the 25% tariffs on specific products that also were already in place, the official said.
Trump sent his all-caps post hours after Lutnick and other trade negotiators for the two economic superpowers concluded high-level talks in London.
The president said the deal is “done,” but added that it is still “subject to final approval” between himself and Chinese President Xi Jinping.
Trump said China’s tariffs on the U.S. will stay at 10%, where they have stood since both sides agreed last month to temporarily pare back retaliatory duties on each others’ goods.
Posted on 6/11/25 at 12:18 pm to UltimaParadox
“We agreed to agree upon a new trade deal”
For another 6 months ..
Gonna go to zippys and get some tacos.
For another 6 months ..
Gonna go to zippys and get some tacos.
Posted on 6/11/25 at 6:25 pm to bigjoe1
quote:
WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%.”
Its funny he thinks this is a win, since US companies and consumers will be the one paying 55%.
At least there might be some near term certainty, if this is truly the rate going forward this is going to hurt a lot of businesses on their bottom line.
However, I will add that if we have learned anything over the last 100 years. American businesses will get creative to avoid the bulk of these tariffs
This post was edited on 6/11/25 at 6:29 pm
Posted on 6/11/25 at 6:46 pm to UltimaParadox
quote:Bessent floats proposal to pause tariffs on countries negotiating CNBC in good faith
Treasury Secretary Scott Bessent signaled the Trump administration’s openness on Wednesday to extend President Donald Trump’s current 90-day tariff pause beyond July 9 for the U.S.' top trading partners, as long as they show “good faith” in ongoing trade negotiations.
The U.S. has 18 “important trading partners,” Bessent said at a hearing before the House Ways and Means Committee in Washington. The Trump administration, he said, is “working toward deals” with those countries.
Posted on 6/11/25 at 7:01 pm to bigjoe1
The reciprocal tariffs were never coming back, but I don't think this was going to help the market either.
This news is already baked in imo
This news is already baked in imo
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