The US and China finalized a trade understanding reached last month in Geneva, US Commerce Secretary Howard Lutnick said, adding that the White House has imminent plans to reach agreements with a set of 10 major trading partners. The China deal, which Lutnick said had been signed two days ago, codifies the terms laid out in trade talks between Beijing and Washington, including a commitment from China to deliver rare earths used in everything from wind turbines to jet planes. “They’re going to deliver rare earths to us” and once they do that, “we’ll take down our countermeasures,” Lutnick told Bloomberg News in an interview. Meanwhile the Treasury Department announced a deal with G-7 allies that will exclude US companies from some taxes imposed by other countries in exchange for removing the Section 899 “revenge tax” proposal from President Donald Trump’s tax bill. “OECD Pillar 2 taxes will not apply to U.S. companies, and we will work cooperatively to implement this agreement across the OECD-G20 Inclusive Framework in coming weeks and months,” Treasury Secretary Scott Bessent said on social media Thursday.
Today’s guests: Alex Brazier, BlackRock Global Head of Investment and Portfolio Solutions, Themistoklis Fiotakis, Barclays Global Head of FX Strategy and Emerging Markets Macro Strategy, Mattias Ljungman, Moonfire Ventures Founder and Managing Partner
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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
00:00:36 – Lutnick Says US-China Trade Truce Signed, 10 Deals Imminent
00:03:48 – Merz on US-EU Deal
00:07:00 – Alex Brazier, BlackRock Global Head of Investment and Portfolio Solutions
00:15:33 – Nike Rises After Predicting Its Sales Slump Has Hit Bottom
00:17:38 – Dollar Steadies After 4-Day Drop
00:18:58 – Themistoklis Fiotakis, Barclays Global Head of FX Strategy and Emerging Markets Macro Strategy
00:27:59 – Mattias Ljungman, Moonfire Ventures Founder and Managing Partner
00:34:32 – US & China Work to Shape AI Norms
00:41:17 – Stocks Rise on Trade Deal Hopes, Fed Cut Bets
00:46:49 – Anna Wintour Is Giving Up Her Daily Duties at Vogue Magazine
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More on Bloomberg Television and Markets
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