Bloomberg Markets 02/19/2025
"Bloomberg Markets" follows the market moves across every global asset class and discusses the biggest issues for Wall Street. Today's guests: Bloomberg's Mark Gurman and Cain International Co-Founder and CEO Jonathan Goldstein. (Source: Bloomberg)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
22 minutes ago
- Yahoo
Bessent Returns to Washington as US-China Talks Stretch On
(Bloomberg) — SUS Treasury Secretary Scott Bessent departed trade talks with China late Tuesday in London, as delegations continued to negotiate over key tech and industrial exports and deescalating their trade war. Trump's Military Parade Has Washington Bracing for Tanks and Weaponry NY Long Island Rail Service Resumes After Grand Central Fire NYC Mayoral Candidates All Agree on Building More Housing. But Where? Senator Calls for Closing Troubled ICE Detention Facility in New Mexico California Pitches Emergency Loans for LA, Local Transit Systems Bessent told reporters he had to return to Washington in order to testify before Congress. US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer planned to continue discussions with their Chinese counterparts 'as needed,' Bessent said. 'We have had two days of productive talks, they are ongoing,' the Treasury secretary said before leaving Lancaster House, a Georgian-era mansion near Buckingham Palace serving as the meeting site. Financial markets were closely watching Tuesday as the world's largest economies continued talks over the terms of their tariff truce brokered last month. US stocks rose to session highs after Lutnick said earlier the talks were 'going really, really well.' The teams, which had been led by Bessent and Chinese Vice Premier He Lifeng, were still holding discussions Tuesday night in order to iron out technical details, according to a Treasury official. The key issue this week is re-establishing terms of an agreement reached in Geneva last month, in which the US understood that China would allow more rare earth shipments to reach American customers. The Trump administration accused Beijing of moving too slowly, which threatened shortages in domestic manufacturing sectors. In return, the Trump administration is prepared to remove a recent spate of measures targeting chip design software, jet engine parts, chemicals and nuclear materials, people familiar with the matter said. Many of those actions were taken in the past few weeks as tensions flared between the US and China. 'Win by China' 'A US decision to roll back some portion of the technology controls would very much be viewed as a win by China,' said Dexter Roberts, nonresident senior fellow at the Atlantic Council's Global China Hub, adding that the possibility of unwinding 'any controls' seemed 'pretty much unthinkable' until recently. A month ago Beijing and Washington agreed to a 90-day truce through mid-August in their crippling tariffs to allow time to resolve many of their trade disagreements — from tariffs to export controls. Lancaster House carries historical significance. It has hosted major addresses by UK prime ministers, speeches by central bank governors and parties for Britain's royal family. At the same time, Trump's trade team is scrambling to secure bilateral deals with India, Japan, South Korea and several other countries that are racing to do so before July 9, when the US president's so-called reciprocal tariffs rise from the current 10% baseline to much higher levels customized for each trading partner. Meanwhile, Chinese President Xi Jinping on Tuesday held his first phone conversation with South Korea's newly elected President Lee Jae-myung and called for cooperation to safeguard multilateralism and free trade. 'We should strengthen bilateral cooperation and multilateral coordination, jointly safeguard multilateralism and free trade, and ensure the stability and smoothness of global and regional industrial chains and supply chains,' Xi said, according to the CCTV report. —With assistance from Colum Murphy and Stephanie Lai. New Grads Join Worst Entry-Level Job Market in Years American Mid: Hampton Inn's Good-Enough Formula for World Domination The Spying Scandal Rocking the World of HR Software Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling ©2025 Bloomberg L.P.
Bloomberg
29 minutes ago
- Bloomberg
US, China Agree on Framework to Implement Geneva Deal
The US and China have agreed to a preliminary deal on how to implement the consensus the two sides reached in Geneva, US Commerce Secretary Howard Lutnick told reporters in London. The delegations will take the proposal back to their respective leaders for approval, after which they will seek to implement it. (Source: Bloomberg)
Yahoo
40 minutes ago
- Yahoo
US, China Officials Agree on Plan to Ramp Down Trade Tensions
(Bloomberg) — The US and China de-escalated trade tensions, agreeing to a preliminary deal on how to implement the consensus the two sides reached in Geneva, negotiators for both sides said. Trump's Military Parade Has Washington Bracing for Tanks and Weaponry NY Long Island Rail Service Resumes After Grand Central Fire NYC Mayoral Candidates All Agree on Building More Housing. But Where? Senator Calls for Closing Troubled ICE Detention Facility in New Mexico California Pitches Emergency Loans for LA, Local Transit Systems While the full details of their accord weren't immediately available, US negotiators said they 'absolutely expect' that issues around shipments of rare Earth minerals and magnets will be resolved with the framework implementation. 'We have reached a framework to implement the Geneva consensus,' US Commerce Secretary Howard Lutnick told reporters in London. The US and Chinese delegations will now take the proposal back to their respective leaders, said China's chief trade negotiator Li Chenggang, after two days of discussions that spanned nearly 20 hours in a Georgian-era mansion near Buckingham Palace. Earlier: China and US Holding Second Day of Trade Talks in London 'Once the presidents approve it, we will then seek to implement it,' Lutnick added. US Trade Representative Jamieson Greer said there were no other meetings scheduled, but added that the American and Chinese sides talk frequently and are able to do so whenever they need. The talks in London came at the urging of the Trump administration to cement a pledge the Chinese government made to ease shipments of rare earths during last month's trade talks in Geneva, which yielded a tariff truce. The disagreement over critical mineral exports reignited open economic conflict between the US and China and raised the prospect their nascent deal could collapse, which would pose a fresh threat for the world economy. 'We do absolutely expect that the topic of rare Earth minerals and magnets with respect to the United States of America will be resolved in this framework implementation,' Lutnick said. 'Also, there were a number of measures the United States of America put on when those rare earths were not coming,' Lutnick added. 'You should expect those to come off — sort of, as President Trump said, in a balanced way. When they approve the licenses, then you should expect that our export implementation will come down as well.' 'When it comes to export controls and all those different things,' Greer said, 'in eight years of negotiating with the Chinese, I've never had a meeting where they didn't want to talk about export controls.' —With assistance from Jordan Fabian. New Grads Join Worst Entry-Level Job Market in Years American Mid: Hampton Inn's Good-Enough Formula for World Domination The Spying Scandal Rocking the World of HR Software Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling ©2025 Bloomberg L.P. Sign in to access your portfolio
