Some weekend posts from Charlie Gasparino at Fox Business stirred optimism that the US and Japan might be close to a trade deal but more recently, he’s pushed back against that narrative.
He now writes that while there has been progress towards a deal, one is ‘not at hand’.
Breaking: Howard Lutnick defenders point out that he remains a key part of the trade negotiations despite media narrative that he’s been sidelined and Scott Bessent has taken the lead. They say he was part of last week’s meeting with the Japanese trade minster that took place at the White House. Also while there is progress on trade deal w Japan, deal is not at hand.
The market is eagerly watching for some signs of the start of the ’90 deals in 90 days’ the Trump admin has promised. The first deal will give us some indications around what’s possible and if the 10% floor on tariffs can be removed.
This article was written by Adam Button at www.forexlive.com.