Bessent:
Overall tone of meetings was very constructiveWe don’t want to decoupleWe talked about what we need to do to get back in balance.We are diligent in regard to national securityChina’s global imbalances are not sustainableOther developed economies will raise tariff barriers and global South cannot absorb excess Chinese production.Will meet with Trump in the oval office tomorrow to go through the dealDiscussed EU-US trade deal with Sweden’s Prime Minister, was supportive of itThe US economy is starting to fire on all cylinders now.We were able to discuss more and more things.China talks are getting to be more engaged.Xi invited Trump to China in a recent phone call.Told Chinese officials that given US secondary tariff legislation on sanctioned Russian oil, China could face high tariffs if it continues to purchase it
Greer:
US trade deficit with China is on track to be at least $50 billion smaller this yearTrump has the discretion to alter the rate on China goods.
Trump meanwhile is speaking on his way back to the US from the UK says:
Spoke with Bessent, very good meeting with the China team on tradeIndia trade deal is not finalized. They will see what the rate is. They may pay tariffs of 20-25%.London mayor is a very nasty man
This article was written by Greg Michalowski at investinglive.com.