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.