
Bloomberg Surveillance 7/21/2025
Bloomberg Surveillance
Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day. (Source: Bloomberg)

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Trump Official Says More Talks Needed to Clinch India Deal
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Lutnick Sees Likely 90-Day Extension of China Trade Truce
(Bloomberg) -- Commerce Secretary Howard Lutnick said a 90-day extension of a trade truce with China was a likely outcome with negotiations between the two countries underway in Stockholm. Budapest's Most Historic Site Gets a Controversial Rebuild San Francisco in Talks With Vanderbilt for Downtown Campus Can This Bridge Ease the Troubled US-Canadian Relationship? Trump Administration Sues NYC Over Sanctuary City Policy 'Is that a likely outcome? Sure, it seems that way, but let's leave it to President Trump to decide,' Lutnick said in an interview Monday on Fox News when asked about reports that the two nations were considering keeping their tariff agreement in place for another three months. Lutnick's comments followed the start of a new round of talks between the world's two largest economies — this time in Stockholm, where Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent led the respective delegations. Earlier rounds saw Washington and Beijing agree to reduce tit-for-tat levies and ease export controls on certain technology and rare-earth minerals, easing tensions that had rattled financial markets as Trump moves to enact a sweeping tariff agenda. But that agreement is set to expire on Aug. 12, leading to new discussions aimed at extending the truce and giving the US and China more time to address issues such as duties tied to fentanyl trafficking that President Donald Trump has levied and concerns about Chinese purchases of sanctioned Russian and Iranian oil. The two sides are slated to continue talks on Tuesday. The China trade talks also come as the US gears up for a separate deadline for other trading partners, with so-called reciprocal tariffs slated to kick in on Aug. 1 against dozens of economies. Trump initially unveiled those rates in April — before pausing them after they sparked market turmoil and giving economies a change to negotiate lower duties with the US. But that stretch has seen few deals actually materialize even after Trump extended the initial mid-July deadline to August. The president has begun issuing letters unilaterally setting rates for countries that were not able to negotiate a deal. Trump has said more letters are coming for more than 150 countries. Earlier Monday, he said that he was considering tariffs in the range of 15% to 20% for those remaining nations. Lutnick said Trump is still weighing possible deals even with the deadline just days away. 'He's done these big deals. He's got really all the cards in front of him,' Lutnick said. 'As he said, he's going to decide what the tariff rate is, how much these countries are going to open their markets.' 'That's what we're going to do this week. We're going to basically — he's going to consider a few deals, of course he will, but basically what he's going to do is he's going to set the tariff rate for everybody and do that by the end of the week,' he added. Trump has shown a willingness to lower rates for countries that come with fresh offers even after announcing their levies, including Japan which was told it faced a 25% rate for Aug. 1 but was able to reduce that to 15%, including for its crucial auto exports, in a deal the US president said would include the creation of a $550 billion fund to make investments in the US. South Korea is also seeking a deal, with negotiators discussing with the creation of their own fund to invest in US projects in exchange for a lower tariff rate, including on auto exports. Lutnick said that South Korean negotiators 'flew to Scotland,' where Trump is on a trip, to meet with the Commerce secretary and US Trade Representative Jamieson Greer. 'I mean, think about how much they really, really want to get a deal done,' Lutnick said. Burning Man Is Burning Through Cash It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off Elon Musk's Empire Is Creaking Under the Strain of Elon Musk ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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Boeing reports second-quarter revenue that tops estimates, sending shares higher
- Boeing (NYSE:BA) has posted group-wide revenue that topped estimates, as the embattled jetmaker said it was boosted by improved operational performance and commercial delivery volume. Shares of Boeing rose by more than 2% in premarket U.S. trading following the announcement. Sales from the company's key commercial airplanes division came in at $10.87 billion, topping Bloomberg consensus estimates of $10.4 billion, while its defense unit's revenue was also above expectations. "Our fundamental changes to strengthen safety and quality are producing improved results as we stabilize our operations and deliver higher quality airplanes, products and services to our customers,' said CEO Kelly Ortberg in a statement. Ortberg was brought on at the helm of Boeing in 2024 to help the airplane manufacturer salvage its reputation after a mid-air panel blowout on one of its passenger jets sparked fresh questions about its safety record. Meanwhile, Boeing has been at center of global trade disputes, although Ortberg has previously said the firm has been working to avoid the worst of a recent rise in U.S. tariffs. Crucially, the U.S. and China have reached a trade truce, while a preliminary deal between Washington and the European Union exempts aircraft from tariffs. "As we look to the second half of the year, we remain focused on restoring trust and making continued progress in our recovery while operating in a dynamic global environment," Ortberg said. Boeing reported a core loss per share of $1.24 in the second quarter, which was not as deep as analysts had originally feared. Related articles Boeing reports second-quarter revenue that tops estimates, sending shares higher Victoria's Secret Exposed: The Warning Sign Behind the Stock's 52% Collapse Surge of 50% since our AI selection, this chip giant still has great potential