Trump: Rate cuts would be like jet fuel
|U.S. President Donald Trump made a series of remarks on Thursday, touting what he called a major breakthrough in trade ties with the United Kingdom. He also signalled that tariffs on China could be lowered ahead of high-stakes US-China trade talks this weekend, while renewing his criticism of Federal Reserve Chair Jerome Powell.
Key Takeaways
- Just concluded rare earth deal with Ukraine.
- Speaking with Zelenskiy soon.
- Reached breakthrough deal with UK.
- UK agreement increases access for beef, ethanol.
- UK will reduce non-tariff barriers.
- UK will fast track US goods through customs.
- Won't be any red tape.
- Things will move quick both ways.
- Will receive new market access for US chemicals, machinery.
- Have many meetings planned, every country wants a deal.
- Want protections for steel.
- Going to be uneasing on steel.
- Deal includes plans to bring UK into economic security alignment with US.
- From UK trade deal, the US will raise $6B in external revenue from 10% tariffs, $5B in new export opportunities.
- US-UK trade deal will lead to the creation of an aluminium and stell trading zone, and a secure pharmaceutical supply chain.
- Tariffs on China could be lowered.
- Expect friendly meeting with China.
- Might see Xi after weekend talks.
- China tariffs can't get any higher than 145%.
- We want to compete in China.
- 10% baseline is not a template for future deals.
- Won't do a similar deal with cars.
- BoE cut, China cut, everyone is cutting but Powell.
- Rate cuts would be like jet fuel.
- Powell probably not in love with me.
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