US President Donald Trump is set to make the final call on maintaining a tariff truce with China before it expires in two weeks, an extension that would mark a continued stabilization in ties between the world’s two biggest economies.
The two sides agreed to extend their tariff truce, Chinese trade negotiator Li Chenggang told reporters in Stockholm without providing further details. Treasury Secretary Scott Bessent, who led the US delegation with Trade Representative Jamieson Greer, later said “our Chinese counterparts have jumped the gun a little.” In corporate news, UBS Chief Executive Officer Sergio Ermotti said that he won’t make the bank smaller to mitigate the potential impact of future Swiss capital requirements. “Having a global diversified business is a strength for us and for Switzerland,” Ermotti told Bloomberg TV. “Shrinking is not an option.”
Switzerland last month unveiled proposals to reform its bank capital rules in an effort to make the industry more resilient following the collapse of Credit Suisse in 2023.
Today’s guests: Simon Macadam, Capital Economics Deputy Chief Global Economist, Alicia García-Herrero, Natixis Chief APAC 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
00:01:13 – Trump to Make Final Call on China Tariff Truce
00:04:57 – UBS Signals Better Outlook With Cooling Trade Tensions
00:11:39 – Simon Macadam, Capital Economics Deputy Chief Global Economist
00:21:50 – Mercedes Reinstates Guidance at Lower Level
00:30:06 – Alicia García-Herrero, Natixis Chief APAC Economist
00:34:51 – Canada Weighing Recognition of Palestine Statehood: CBC
00:38:18 – UBS 2Q Net Income Beats Estimates
00:47:03 – Shoppers Turn Away From L’Oreal
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