Trump consultant to China deal: very confident for Monday
Trump consultant to China deal: very confident for Monday
CNN reported that Kevin Hassett, director of the National Economic Council, expressed his confidence in a forced trade agreement between the United States and China on Sunday. According to Hassett, he was "very confident" that the negotiations after the meeting of the two sides on the .
Hassett's comments take place after a positive statement by President Donald Trump, the last week a "very good" entertainment with the Chinese president XI Had jinping. Trump also reported that the talks with China were "very advanced". Hassett explained that the USA aims to return the flow of "decisive" rare earths that are used in electronics production to the level before the beginning of April when the trade war between the USA and China escalated . The trade talks in London will lead Commerce Secretary Howard Lutnick, supported by treasurer Scott Bessent and the US trade officer Jamieson Greer, who in May the trade talks in Geneva. But the tensions between the nations increased after Trump published on Trump on Truth that China had "completely injured the 90-day trade agreement", which was to defuse the trade conflict beforehand. The Trump administration had imposed on dozens of trading partners on April 2 April 2, before pausing it for 90 days and lowering it to a base rate of 10 %. Hassett decided on Sunday not to provide any information about the future basic tariffs, since the Trump administration continues to negotiate with the trading partners before the deadline on July 9th. "You can be sure that tariffs will come," says Hassett. Lutnick said in May in CNN’s "State of the Union" that "We will not go under 10 %" , and that this will be the expected base rate in the near future. The Trump administration has so far only announced a trade contract with the United Kingdom . She emphasizes that other countries, especially China, will carry the main load of tariffs. However, companies and economists have warned that this could lead to uncertainties about consumer expenditure and approach the risk of a possible recession. In the middle of these concerns, the US inflation in April went to the Lowest stand back for more than four years. The annualized inflation rate fell from an increase of 2.4 % in March to 2.3 %, while consumer prices rose by 0.2 %, as the data of the consumer price index show. "All of our measures together help to lower inflation and reduce the deficit by generating income from other countries," said Hassett. The Ministry of Finance reported that a record amount of $ 16.3 billion in customs fees was received in April, a sudden increase compared to the $ 8.75 billion collected in March. Since the beginning of the budget year 2025, which began in October 2024, the United States has taken around $ 63.3 billion in customs fees - an increase of more than $ 15 billion compared to the previous year. The congressional budget office estimates that increased customs surge The US economy that could reduce total deficits in the next ten years by $ 3 trillion. The US government deficit was about $ 2 trillion in 2024, which corresponds to around 7 % of the gross domestic product, according to a report from June 2024 of the CBO. At the same time, a comprehensive law of Republicans in the House of Representatives for the implementation of Trump's politics would add another 3.8 trillion dollar to the government's debt load of $ 36 trillion, according to Current CBO estimates . This report was also made up by CNNS Matt Egan and Alicia Wallace. progress in trade negotiations
negotiations in London led by US officials
tariff policy of the Trump administration
economic effects and inflation
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