Latest news with #PresidentXi
Yahoo
8 hours ago
- Business
- Yahoo
Trade talks probably won't be done by Trump's July 9 deadline, Treasury Secretary Bessent says
Treasury Secretary Scott Bessent on Friday said he thinks trade negotiations could be 'wrapped up' by Labor Day, providing a more relaxed framework for inking deals than the previously prescribed July 9 deadline. Bessent said in an interview on Fox Business that the United States has 18 'important trading partners' that it is seeking to make deals with. 'If we can ink 10 or 12 of the important 18 … then I think we could have trade wrapped up by Labor Day,' Bessent said. The Trump administration so far has announced only a trade deal with the United Kingdom and a truce in its trade war with China. 'With all things, they get done in the end. You have to put on a deadline,' Bessent said. 'As you and I know, nothing gets done in Washington well in advance.' Bessent also said that he expects rare earth minerals from China to start to 'flow' back into the United States. China earlier on Friday announced it would approve the export of rare earth minerals to the United States. 'They were not flowing as fast as previously agreed,' Bessent said. 'President Trump and President Xi had a phone call, and then our teams met in London, ironed this out, and I am confident now that as we agreed, the magnets will flow.' Representatives from Washington and Beijing met in Geneva to discuss trade in May and then met again in London to announce a framework for implementing the trade truce. Bessent said trade negotiations with China and the United Kingdom are 'behind us for now.' Bessent said if countries don't get a deal done, President Donald Trump is open to reverting back to April 2 massive 'reciprocal' tariff levels. Wall Street and Capitol Hill have been fixated on when more trade deals might be announced, with the supposed July 9 deadline approaching. Melden Sie sich an, um Ihr Portfolio aufzurufen.
CNN
a day ago
- Business
- CNN
Trade talks probably won't be done by Trump's July 9 deadline, Treasury Secretary Bessent says
Treasury Secretary Scott Bessent on Friday said he thinks trade negotiations could be 'wrapped up' by Labor Day, providing a more relaxed framework for inking deals than the previously prescribed July 9 deadline. Bessent said in an interview on Fox Business that the United States has 18 'important trading partners' that it is seeking to make deals with. 'If we can ink 10 or 12 of the important 18 … then I think we could have trade wrapped up by Labor Day,' Bessent said. The Trump administration so far has announced only a trade deal with the United Kingdom and a truce in its trade war with China. 'With all things, they get done in the end. You have to put on a deadline,' Bessent said. 'As you and I know, nothing gets done in Washington well in advance.' Bessent also said that he expects rare earth minerals from China to start to 'flow' back into the United States. China earlier on Friday announced it would approve the export of rare earth minerals to the United States. 'They were not flowing as fast as previously agreed,' Bessent said. 'President Trump and President Xi had a phone call, and then our teams met in London, ironed this out, and I am confident now that as we agreed, the magnets will flow.' Representatives from Washington and Beijing met in Geneva to discuss trade in May and then met again in London to announce a framework for implementing the trade truce. Bessent said trade negotiations with China and the United Kingdom are 'behind us for now.' Bessent said if countries don't get a deal done, President Donald Trump is open to reverting back to April 2 massive 'reciprocal' tariff levels. Wall Street and Capitol Hill have been fixated on when more trade deals might be announced, with the supposed July 9 deadline approaching.
CNN
a day ago
- Business
- CNN
Trade talks probably won't be done by Trump's July 9 deadline, Treasury Secretary Bessent says
Treasury Secretary Scott Bessent on Friday said he thinks trade negotiations could be 'wrapped up' by Labor Day, providing a more relaxed framework for inking deals than the previously prescribed July 9 deadline. Bessent said in an interview on Fox Business that the United States has 18 'important trading partners' that it is seeking to make deals with. 'If we can ink 10 or 12 of the important 18 … then I think we could have trade wrapped up by Labor Day,' Bessent said. The Trump administration so far has announced only a trade deal with the United Kingdom and a truce in its trade war with China. 'With all things, they get done in the end. You have to put on a deadline,' Bessent said. 'As you and I know, nothing gets done in Washington well in advance.' Bessent also said that he expects rare earth minerals from China to start to 'flow' back into the United States. China earlier on Friday announced it would approve the export of rare earth minerals to the United States. 'They were not flowing as fast as previously agreed,' Bessent said. 'President Trump and President Xi had a phone call, and then our teams met in London, ironed this out, and I am confident now that as we agreed, the magnets will flow.' Representatives from Washington and Beijing met in Geneva to discuss trade in May and then met again in London to announce a framework for implementing the trade truce. Bessent said trade negotiations with China and the United Kingdom are 'behind us for now.' Bessent said if countries don't get a deal done, President Donald Trump is open to reverting back to April 2 massive 'reciprocal' tariff levels. Wall Street and Capitol Hill have been fixated on when more trade deals might be announced, with the supposed July 9 deadline approaching.
Times
7 days ago
- Business
- Times
Chinese mega-embassy to be approved within weeks
A new Chinese super-embassy has been recommended for approval by the Planning Inspectorate, a decision expected to be waved through by the housing secretary, Angela Rayner, within weeks. The plans for the embassy in central London had been blocked amid warnings from British intelligence about its location and the espionage risk, but were revived after personal lobbying from President Xi. The Planning Inspectorate, an executive agency of the Ministry of Housing, Communities and Local Government, is understood to have given the scheme the green light in a report which landed on Rayner's desk just under a fortnight ago. It follows a 12-day public inquiry in February. The decision, which is expected to be formally rubberstamped by Rayner before September, is likely to trigger a judicial review process.
Globe and Mail
18-06-2025
- Business
- Globe and Mail
Trump to extend TikTok sale deadline for 90 days, White House says
U.S. President Donald Trump will extend a June 19 deadline for China-based ByteDance to divest the U.S. assets of short video app TikTok for 90 days despite a law that mandated a sale or shutdown absent significant progress, the White House said on Tuesday. Trump had already twice granted a reprieve from enforcement of a congressionally mandated ban on TikTok that was supposed to take effect in January. 'President Trump will sign an additional executive order this week to keep TikTok up and running,' White House press secretary Karoline Leavitt said Tuesday. That would extend the deadline to mid-September. 'President Trump does not want TikTok to go dark,' she added, saying the administration will spend the next three months making sure the sale closes so that Americans can keep using TikTok with the assurance that their data is safe and secure. Trump said in May he would extend the June 19 deadline after the app helped him with young voters in the 2024 election. Earlier on Tuesday, he had told reporters on Air Force One he expected to again extend the deadline. 'Probably, yeah,' Trump said when asked about extending the deadline. 'Probably have to get China approval but I think we'll get it. I think President Xi will ultimately approve it.' The law required TikTok to stop operating by January 19 unless ByteDance had completed divesting the app's U.S. assets or demonstrated significant progress toward a sale. Trump began his second term as president on January 20 and opted not to enforce it. He first extended the deadline to early April, and then again last month to June 19. In March, Trump said he would be willing to reduce tariffs on China to get a deal done with TikTok's Chinese parent ByteDance to sell the short video app used by 170 million Americans. A deal had been in the works this spring that would spin off TikTok's U.S. operations into a new U.S.-based firm and majority-owned and operated by U.S. investors, but it was put on hold after China indicated it would not approve it following Trump's announcements of steep tariffs on Chinese goods. Democratic senators argue that Trump has no legal authority to extend the deadline, and suggest that the deal under consideration would not meet legal requirements.
