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US-China trade talks resume: 10-day truce likely to be extended, triple-digit tariffs avoided. 15% auto tariff added to EU deal.
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EU tariff deal eases trade war fears The United States and the European Union have reached an agreement on tariffs. This has reduced fears of a trade war. A trade war is when one country raises tariffs on another country's goods, which in turn results in the other country imposing counter-tariffs. This can be bad for the global economy because it disrupts trade, raises commodity prices and slows economic growth. The tariff deal has helped to avoid a situation that has helped to stabilize global trade and boosted confidence among investors. In short, good earnings from big tech companies, a positive impact from the Fed meeting, favorable inflation data and a tariff deal with the European Union - all of these have combined to boost US futures and reduce trade war concerns.
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Economy and Trade Strong Dollar: Trump says that when a country's dollar is strong, that country can't sell anything. But he also says he would never want a weak dollar.
Currency Value: He notes that China and Japan only want a weak currency.
Trade with Japan: According to Trump, Japan has completely opened its market to the United States. He hopes the same can happen with the European Union (EU).
Kingdom: He said there will be more "fine tuning" of the trade deal with the United Kingdom. Steel and Aluminum Tariffs: Trump said there is not much room for concessions on steel and aluminum tariffs.
Tariff Letters: About 200 tariff letters will be sent, most of which will be 10% and some will be 15% tariffs. Deal with the European
Union: Trump thinks there is a good chance of a deal with the EU. The EU may have to lower its tariffs. Trump has said he will use the money from tariffs to give Americans rebates.
Other comments Talks with Netanyahu: When asked if he had discussed humanitarian aid with Israeli Prime Minister Netanyahu, Trump said yes. However, he could not reveal the content of the discussions and called it "a little disappointing." Trump's comments suggest that he is working on several important issues at the same time and trying to control them.
