Trade Negotiations & Agreements - US and China have a framework to get trade talks back to the Geneva agreement [1] - China will grant rare earth export licenses for US companies immediately, but these licenses may only last 6 months [2] - Current US tariffs on China will remain at their current levels [2] - The existing 30% tariffs on Chinese imports since Trump took office and China's 10% retaliatory tariffs remain in place [3][4] - The 90-day countdown for other countries to negotiate new trade deals may be extended for those engaged in good-faith negotiations [4] Rare Earth Materials & Technology - Rare earth materials are critical for various industries, including auto, construction, electronics, and defense, giving China leverage [7] - The US may be exporting high-end technology, like GPUs for generative AI, to secure rare earth materials [8] - Concerns exist about giving up high-end technology access to obtain rare earth materials, especially with a potential 6-month limit on rare earth export licenses [9] Trade War Impact & Perspectives - Some believe the US overplayed its hand in trade negotiations [6] - Tariffs are intended to encourage domestic manufacturing and reduce cheap imports, but also to raise revenue, creating a contradiction [15][16] - Elon Musk previously warned that tariffs could lead to a recession [16] USMCA & Trade Deal Trust - USMCA (updated NAFTA) was considered a strong achievement of the Trump administration [13] - Concerns exist about the trustworthiness of trade deals made with the US, given past actions [14] Auto Industry Impact - Potential increase of steel tariffs from 25% to 50% could significantly impact the auto industry, which imports approximately $16 billion [11] - Auto production has been affected by uncertainty regarding access to rare earth materials and magnets [12]

Trade Negotiations Progress - US and China are seemingly making progress in trade talks, aiming to revert to the Geneva agreement made a month prior [1] - China is expected to immediately begin granting rare earth export licenses to US companies [2] - These licenses are reported to only last for 6 months, indicating a potentially short-lived truce [2] Tariffs and Deadlines - Current US tariffs on Chinese goods are expected to remain at their existing levels [2] - The US has already imposed 30% tariffs on Chinese imports since the current administration took office [3] - China has retaliated with 10% tariffs on US goods [4] - The 90-day countdown for other countries to negotiate new trade deals with the US continues [4] - The July 9th deadline for trade negotiations may be extended for countries engaged in good-faith discussions with the US [4]

Economic Growth & Inflation - The US economy is experiencing renewed vitality due to policy changes in tax and trade [1] - Since January, the private sector has added over 500,000 jobs [1] - US inflation is at its slowest pace since 2020/2021 [1] - Cost increases for shelter, food, and energy are decelerating [2] - Inflation is showing substantial improvement due to the administration's policies [2] Labor Market & Confidence - The labor market remains strong with low unemployment and high job openings [3] - Stock market performance and consumer confidence data exemplify the labor market's strength [3]

The U.S. and China have agreed to a framework to implement the trade truce they struck in Geneva last month, after two days of talks in London. https://t.co/ffEmJ5gCBW ...

INFLATION IN, UP .3%. KATIE: A GREAT ROUND UP. ONE OF THE TOP STORIES THIS MORNING.THE OTHER TOP STORY IS THE WHITE HOUSE CELEBRATING A STRING OF TRADE WINS. THE U.S. AND CHINA ESTABLISHED A FRAMEWORK -- A FRAMEWORK FOR IMPLEMENTING THE GENEVA TRADE AGREEMENT BUT IT STILL NEEDS APPROVAL FROM PRESIDENT TRUMP AND TRIP -- AND PRESIDENT XI. AND AN APPEALS COURT ALLOWED TRUMP TO CONTINUE ENFORCING HIS TARIFFS THROUGH JULY.TYLER, BRING US TO THE TRADE FRAMEWORK THAT WE SEEM TO HAVE ESTABLISHED WITH CHINA, WHAT DO ...

Treasury Secretary Scott Bessent is set to testify before the House Ways and Means Committee at 10 am Wednesday, fresh off the plane from London where he led the US team in trade talks with China. Both sides have now established a framework for implementing the Geneva consensus that last month brought down tariffs. ...

Just moments away from the start, 4 minutes from the start of the European trading day here. I guess CPI hangs over these markets as the big set piece event. Absolutely it's CPI.And then, of course, the Treasury auctions. There's a ten year today, a 30 year tomorrow. So I think that there's a little bit of bias towards yields to rise, but that's obviously with no kind of prior knowledge about what CPI will print.I also think there's a little bit, but probably bias for stocks to go down at the margin, but no ...

(door slamming) (camera shutter clicking) (onlookers faintly speaking) (car engine rumbling) - We have reached a framework to implement the Geneva consensus and the call between the two presidents, right. So that was on June 5th. So we've combined those two.We've reached a framework for implementation. So the idea is we are going to go back and speak to President Trump and make sure he approves it. They're gonna go back and speak to President Xi and make sure he approves it.And if that is approved, we will ...

ANNA: GOOD MORNING FROM LONDON I'M ANNA EDWARDS ALONGSIDE GUY JOHNSON. WHERE AN HOUR AWAY FROM THE OPENING TRADE. DAY TWO U.S.-CHINA TRADE TALKS RESUME IN LONDON WITH OFFICIAL SOUNDING OPTIMISTIC ON THE OUTCOME.WE ARE LIVE FROM LANCASTER HOUSE WHERE DISCUSSIONS ARE TAKING PLACE. UNREST, OR WASHINGTON SINCE HUNDREDS OF MARINES TO LOS ANGELES IN RESPONSE TO PROTESTS. CALIFORNIA'S GOVERNOR BECAUSE THE MINISTRATIONS ACTIONS RECKLESS.APPLE PLAYS CATCH UP, INVESTORS GIVE A LUKEWARM RESPONSE IS THE ANNUAL DEVELOPE ...

Market Trends & Trade Talks - Trade talks between the U S and China are ongoing, with the aim of easing tensions over technology and rare earth elements shipments [8] - Optimism surrounds Chinese shares, with Hong Kong and China markets up approximately 20% from April lows, fueled by a tech revival [5] - Markets are pricing in optimism about trade deals, but the quality, type, and size of the deals remain uncertain [31] Monetary Policy & Economic Data - The Bank of Japan (BOJ) Governor's comments on inflation are perceived as dovish by some, influencing dollar-yen trading [6] - The market is closely watching the 30-year bond auction to gauge demand and its potential impact on policy decisions [3, 32] - The Bank of England is forecast to cut fewer than two additional times this year, leading markets to readjust their views [25] Company News & Developments - Apple unveiled a software redesign but investors showed lukewarm response due to a lack of AI developments, with the stock ending the day down 1 2% [2, 27, 89] - Barclays is preparing to cut over 200 investment banking jobs to invest in priority areas like rates, equity derivatives, and product trading [40] - TSMC's year-to-date sales increased by 42 6% in Taiwanese dollars, with monthly sales up around 40% [46] Geopolitical Risks - The Trump administration sent hundreds of marines to Los Angeles in response to protests, escalating tensions with California's governor [1, 14] - Russia launched nearly 500 drones in a sweeping attack on Kyiv and Odessa, underscoring continued conflict and stalled peace talks [48, 49] - Iran's inventory of close to weaponry-grade uranium is at record levels, growing by 50% in the last three months, raising concerns from the nuclear watchdog [54] Alternative Investments - Bitcoin is gaining, nearing record highs of around 111,000 dollars per coin, driven by regulatory changes and risk-on sentiment [3, 85, 86]