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Filtering by entity: Secretary of Commerce Howard Lutnick | Clear Filter
Summary:A telephone conversation with Mexican President Claudia Sheinbaum was completed, resulting in an agreement to extend existing tariffs on Fentanyl, cars, steel, aluminum, and copper for 90 days. Mexico also agreed to immediately terminate its non-tariff trade barriers. Both parties will negotiate a new trade deal within or potentially beyond the 90-day period, and cooperation on border security, including drugs and illegal immigration, will continue.
Sentiment:Negotiating
Key Claims:
- A very successful telephone conversation was held with Mexican President Claudia Sheinbaum.
- The U.S. and Mexico are increasing their mutual understanding.
- The complexities of a deal with Mexico are unique due to border issues.
- The exact same deal as the last short period was extended for 90 days.
- Mexico will continue to pay a 25% Fentanyl Tariff, 25% Tariff on Cars, and 50% Tariff on Steel, Aluminum, and Copper.
- Mexico has agreed to immediately terminate its Non Tariff Trade Barriers.
- Talks will occur over the next 90 days to sign a trade deal within or beyond that period.
- Key U.S. officials were present at the meeting: JD Vance, Scott Bessent, Marco Rubio, Howard Lutnick, Jamieson Greer, Susie Wiles, and Stephen Miller.
- Continued cooperation on border security, including drugs, drug distribution, and illegal immigration into the United States, will take place.
Potential Market Impact (S&P 500):5/10
Potential Geopolitical Risk:0/10
Potential Global Cross-Asset Impact:5/10
Summary:A phone call between President Trump and President Xi resulted in a positive conclusion regarding a recently agreed trade deal, including resolution of questions on Rare Earth products, upcoming team meetings with specified US representatives, and a reciprocal invitation for a state visit to China.
Sentiment:Diplomatic
Key Claims:
- A very good phone call occurred with President Xi of China.
- The call discussed intricacies of a recently made and agreed-to Trade Deal.
- The call lasted approximately one and a half hours.
- The call resulted in a very positive conclusion for both Countries.
- There should no longer be any questions respecting the complexity of Rare Earth products.
- Respective teams will be meeting shortly at a location to be determined.
- The US team will be represented by Secretary of the Treasury Scott Bessent, Secretary of Commerce Howard Lutnick, and United States Trade Representative, Ambassador Jamieson Greer.
- President Xi graciously invited the First Lady and President Trump to visit China.
- President Trump reciprocated the invitation.
- The conversation was focused almost entirely on TRADE.
- Nothing was discussed concerning Russia/Ukraine, or Iran.
- The Media will be informed as to the scheduling and location of the soon to be meeting.
Potential Market Impact (S&P 500):7/10
Potential Geopolitical Risk:1/10
Potential Global Cross-Asset Impact:7/10
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