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US-China Trade Truce Signed, Treasury Kills ‘Revenge Tax’ | Bloomberg The Pulse 06/27
The US and China finalized a trade understanding reached last month in Geneva, US Commerce Secretary Howard Lutnick said, adding that the White House has imminent plans to reach agreements with a set of 10 major trading partners. The China deal, which Lutnick said had been signed two days ago, codifies the terms laid out in trade talks between Beijing and Washington, including a commitment from China to deliver rare earths used in everything from wind turbines to jet planes. “They’re going to deliver rare earths to us” and once they do that, “we’ll take down our countermeasures,” Lutnick told Bloomberg News in an interview. Meanwhile the Treasury Department announced a deal with G-7 allies that will exclude US companies from some taxes imposed by other countries in exchange for removing the Section 899 “revenge tax” proposal from President Donald Trump’s tax bill. “OECD Pillar 2 taxes will not apply to U.S. companies, and we will work cooperatively to implement this agreement across the OECD-G20 Inclusive Framework in coming weeks and months,” Treasury Secretary Scott Bessent said on social media Thursday.
Today’s guests: Alex Brazier, BlackRock Global Head of Investment and Portfolio Solutions, Themistoklis Fiotakis, Barclays Global Head of FX Strategy and Emerging Markets Macro Strategy, Mattias Ljungman, Moonfire Ventures Founder and Managing Partner
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“The Pulse With Francine Lacqua” is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
Chapters:
00:00:00 – The Pulse With Francine Lacqua
00:00:36 – Lutnick Says US-China Trade Truce Signed, 10 Deals Imminent
00:03:48 – Merz on US-EU Deal
00:07:00 – Alex Brazier, BlackRock Global Head of Investment and Portfolio Solutions
00:15:33 – Nike Rises After Predicting Its Sales Slump Has Hit Bottom
00:17:38 – Dollar Steadies After 4-Day Drop
00:18:58 – Themistoklis Fiotakis, Barclays Global Head of FX Strategy and Emerging Markets Macro Strategy
00:27:59 – Mattias Ljungman, Moonfire Ventures Founder and Managing Partner
00:34:32 – US & China Work to Shape AI Norms
00:41:17 – Stocks Rise on Trade Deal Hopes, Fed Cut Bets
00:46:49 – Anna Wintour Is Giving Up Her Daily Duties at Vogue Magazine
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“Bloomberg: The China Show” is your definitive source for news and analysis on the world’s second-biggest economy. From politics and policy to tech and trends, Haidi Stroud-Watts and Avril Hong give global investors unique insight, delivering in-depth discussions with the newsmakers who matter.
Chapters:
00:00:00 – Bloomberg: The China Show opens
00:04:20 – China markets see widening dispersion among indexes
00:08:29 – Iran oil waiver offers a lifeline to Tehran
00:13:29 – Pure Lithium CEO Emilie Bodoin on battery innovation
00:23:17 – China and Hong Kong markets open
00:26:04 – Lotus Asset Management’s Hao Hong on China market dispersion
00:37:06 – UK prepares for its seventh prime minister in a decade
00:47:45 – MLIV: Asia’s chip-stock momentum faces near-term risks
00:52:52 – Novonesis CEO Ester Baiget on China strategy
01:03:48 – Bloomberg Intelligence: Risks of leveraged ETFs
01:12:33 – HKEX’s Johnson Chui on the financial hub’s IPO pipeline
01:22:24 – Alert: Korea Exchange activates sidecar to halt selling in the Kospi and Kosdaq
01:25:08 – JD.com’s chief economist sees divergence in Chinese economy
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Bloomberg Television brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today’s guests are Wells Fargo Global Investment Strategist Veronica Willis, US Bank Chief Product Officer, Business Banking Shruti Patel, Susquehanna Senior Equity Research Analyst, Tech Hardware Mehdi Hosseini, Former Fed Governor & Monetary Policy Analytics Chairman Laurence Meyer, Bokeh Capital Partners Founder & Chief Investment Officer Kim Forrest, Former Kansas City Fed President Thomas Hoenig, JPM Alternatives Strategist Aaron Mulvihill, Weil, Gotshal & Manges Entertainment, Sports & Media Head Tom Ara, Cotopaxi CEO Lindsay Shumlas, & NFL Hall of Famer Terrell Owens & Syntilay CEO Ben Weiss.
Chapters:
00:00:00 – Bloomberg The Close
00:02:22 – AI CapEx Boom and Market Outlook
00:04:13 – Wells Fargo’s Veronica Willis on Fed Policy, Inflation & Equities
00:10:19 – U.S. Bank Small Business Survey & Gen Z Entrepreneurs
00:16:49 – Top Calls
00:17:52 – Susquehanna’s Mehdi Hosseini on TSMC, AI Demand & Semiconductor Competition
00:22:20 – Alan Greenspan’s Legacy and Fed Communication
00:23:45 – Larry Meyer on Greenspan, Warsh & Monetary Policy
00:31:58 – Micron, Anthropic Partnership & AI Memory Demand
00:36:53 – Stocks Decline Amid SpaceX Losses
00:43:16 – Closing Bell
00:53:53 – Thomas Hoenig on Greenspan and the Future of the Fed
00:59:24 – Alan Greenspan Career Retrospective
01:01:35 – SpaceX IPO Impact & Private Market Liquidity
01:08:42 – Hollywood M&A Boom, Streaming & Creator Economy
01:18:10 – Cotopaxi Enters the Luggage Market
01:23:34 – Terrell Owens, Pickleball & Recovery Footwear
01:29:23 – What to Watch
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Anna Edwards, Guy Johnson, Tom Mackenzie and Mark Cudmore break down today’s key themes for analysts and investors on “Bloomberg: The Opening Trade.”
Chapters:
00:00:00 – MLIV
00:00:02 – Tech Selloff, Korean Stocks
00:01:31 – Margin Calls
00:02:16 – S&P Futures
00:02:45 – ECB, BOE Rate Path
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South Korean stocks tumbled from a record high as investors sold off chip heavyweights on renewed concern that the rally has become overstretched. The Kospi closed down 10%, with losses extending after a 20-minute trading suspension by the Korea Exchange. Bloomberg’s Neil Campling has the latest.
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Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.
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