
Bloomberg Talks: Goldman Sachs' Rob Kaplan
Rob Kaplan, Vice Chairman at Goldman Sachs and former Dallas Fed President participates in a moderated discussion with Bloomberg's Erik Schatzker at the Bloomberg Sell-Side Leaders Forum in New York.
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32 minutes ago
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US, China to Resume Trade Talks With Focus on Rare Earth Exports
(Bloomberg) -- Supply Lines is a daily newsletter that tracks global trade. Sign up here. Next Stop: Rancho Cucamonga! Where Public Transit Systems Are Bouncing Back Around the World ICE Moves to DNA-Test Families Targeted for Deportation with New Contract Trump Said He Fired the National Portrait Gallery Director. She's Still There. US Housing Agency Vulnerable to Fraud After DOGE Cuts, Documents Warn Top trade negotiators from the US and China are set to hold fresh talks in London on Monday, offering a glimmer of hope that the world's two largest economies can defuse tensions over Chinese dominance in rare-earth minerals. Both sides have accused the other of reneging on a deal in Geneva in May where they tried to start dialing back their trade war. Relations have spiraled since President Donald Trump's return to the White House, stoking uncertainty for companies and investors. China said Saturday it approved some applications for rare-earth exports, without specifying which countries or industries were involved — after Trump said Friday that Chinese President Xi Jinping had agreed to restart the flow of minerals and magnets using the materials. 'We want the rare earths, the magnets that are crucial for cell phones and everything else to flow just as they did before the beginning of April and we don't want any technical details slowing that down,' Kevin Hassett, head of the National Economic Council at the White House, said Sunday on CBS's Face the Nation. 'And that's clear to them.' US-China trade tensions escalated this year as a series of duty hikes on each other's goods sent tariffs well above 100% before hitting a pause. While the Geneva deal was meant to pave the way for a broader de-escalation, subsequent talks quickly stalled amid mutual recriminations. The US complained about a decline in shipments of rare-earth magnets essential for American electric vehicles and defense systems, while China bristled at tightened US restrictions on artificial intelligence chips from Huawei Technologies Co., access to other advanced technologies and crackdowns on foreign students in the US. Trump's reprieve on US tariffs for Chinese goods runs out in August, unless he decides to extend it. If deals aren't reached, the White House has said Trump plans to restore tariff rates to the levels he first announced in April, or lower numbers that exceed the current 10% baseline. In London, US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer will meet a Chinese delegation led by Vice Premier He Lifeng. Trump offered a positive spin on what has been a rollercoaster relationship since he took office in January, saying on social media that the talks should go 'very well.' While a call between Trump and Xi last week generated some hope on Wall Street for lower duties between the trading partners, investors' optimism was limited. While promising to reshape US trading relationships, the US president has reached only one new trade agreement — with the UK. The Geneva meeting underscored the challenge of deal-making between China and the US. 'There was confusion and misunderstanding or misinterpretation intentionally on both sides, depending on how you look at it, about what was agreed to,' said Josh Lipsky, chair of international economics at the Atlantic Council. 'They left too many things open to interpretation and they all paid the price for it in the intervening weeks.' After the two leaders spoke, the Chinese Foreign Ministry said Trump told Xi that Chinese students are welcome to study in the US. Trump later said it would be his 'honor' to welcome them. For now, Xi appears to be betting that a reset in ties will lead to tangible wins in the weeks and months ahead, including tariff reductions, an easing of export controls and a less-fraught tone. The US and China 'just want to get back to where they were in Switzerland with a few more agreements down on paper to actually understand what is gonna be licensed, what gets permitted, what doesn't,' Lipsky said. The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again Is Elon Musk's Political Capital Spent? What Does Musk-Trump Split Mean for a 'Big, Beautiful Bill'? Cuts to US Aid Imperil the World's Largest HIV Treatment Program ©2025 Bloomberg L.P.
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3 hours ago
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Meta in Talks for Scale AI Investment That Could Top $10 Billion
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Business Insider
3 hours ago
- Business Insider
Nippon Paint upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Atsushi Ikeda upgraded Nippon Paint (NPCPF) to Buy from Neutral with a 1,470 yen price target The firm sees an attractive entry point, saying the company's core decorative paints business is largely unaffected by reciprocal tariffs and is a beneficiary of stabilizing petrochemical raw material prices. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>