ADDED:
Lutnick is referring to the US and China having finalized a trade understanding reached last month in Geneva
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A US-China trade deal would indeed be welcome. Trump spoke earlier but didn’t specify what sort of deal it was:
And now US Commerce Secretary Lutnick has said that a US-China trade deal was signed two days ago. But, no details.
More:
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The US has signed a trade deal with China, finalised two days ago.
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A trade agreement with India is nearing completion.
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The US is optimistic about reaching a deal with the European Union.
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The EU has made strong progress despite a slow start.
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The US will finalise the EU trade deal at the end of the current round.
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July 9 is set as the deadline for reciprocal tariff agreements.
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On July 9, countries will also be grouped into appropriate tariff categories.
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Countries wanting further negotiations are welcome to engage.
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No changes to the US tariff program will be needed if related legislation is adjusted.
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China to provide rare earths to US
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China deal signed 2 days ago includes rare earths part
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US to lift restrictions on ethane exports to China (I mentioned this yesterday, it was a notable development still in early stages)
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A tax bill is expected to pass within one to two weeks.
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A consensus is expected on SALT-related trade issues.
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Several trade deals are planned to be announced in the coming week.
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Key trade decisions will follow the passage of significant legislation.
This is all positive stuff from Lutnick. If true.
This article was written by Eamonn Sheridan at www.forexlive.com.