Elon Musk, who served as a close adviser and confidante to President Donald Trump until a bitter public falling out last week in a series of social-media posts, issued his strongest sign of contrition yet over how he handled the rupture. “I regret some of my posts about President @realDonaldTrump last week,” he said on his social-media platform, X. “They went too far.” The dispute — which was triggered by Musk’s opposition to the tax-cut bill Trump is pushing through Congress — posed a threat to Musk’s wealth when the president raised the prospect of retaliating by cutting off his government contracts. That would have battered SpaceX, his rocket company, and Tesla stock price tumbled last Thursday, before recovering most of the loss. Meanwhile the US and China capped two days of high-stakes trade talks with a plan to revive the flow of sensitive goods — a framework now awaiting the blessing of Donald Trump and Xi Jinping.
After some 20 hours of negotiations in London, US Commerce Secretary Howard Lutnick said both sides had established a framework for implementing the Geneva consensus that last month brought down tariffs. “First we had to get sort of the negativity out,” he said. “Now we can go forward to try to do positive trade, growing trade.” Capping a marathon round of haggling that stretched over 12 hours on Tuesday, Lutnick said the Chinese had pledged to speed up shipments of rare earth metals critical to US auto and defense firms, while Washington would ease some of its own export controls — suggesting progress was made on two of the thorniest issues in bilateral ties.
Today’s guests: Andrew Balls, PIMCO Global Fixed Income CIO, Ruth Curtice, Resolution Foundation CEO, Joe Davis, Vanguard Global Chief Economist
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"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
Chapters:
00:00:00 – The Pulse With Francine Lacqua
00:01:27 – Li: US, China Have Agreed on Framework
00:04:15 – Rachel Reeves to Unveil UK Spending Review
00:07:07 – Andrew Balls, PIMCO Global Fixed Income CIO
00:09:15 – US & China Agree to Reduce Trade Tensions
00:16:43 – Schwarzman: World Can Absorb Tariff Impact
00:21:15 – Musk: Trump Posts Went Too Far
00:22:59 – Newsom Condemns Troop Deployment in Los Angeles
00:28:55 – Rachel Reeves Defends UK Economic Choices as She Touts Public Spending
00:30:15 – UK Chancellor to Announce £600B Spending Plan
00:36:02 – Zara Owner Inditex Posts Slowing Sales
00:41:18 – Davis: Markets Unprepared for Declining Prices
00:44:54 – Joseph Davis, Vanguard Investment Strategy Group Global Head
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More on Bloomberg Television and Markets
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