IonQ reaches 1,000 patents milestone with new quantum computing grants
Investing.com -- Kevin Hassett of the National Economic Council revealed on CNBC that two trade agreements were almost finalized as of last week. Hassett was part of a call with President Trump and the Swiss President, reflecting the ongoing international discussions.
Hassett noted that the bond market played a role, albeit small, in the 90-day pause in tariffs. He also mentioned that several other trade deals were well advanced, indicating a busy period for international trade negotiations.
The Council's member mentioned the possibility of negotiations being completed within a 90-day timeline, suggesting a proactive approach to these discussions. However, he clarified that talks with China, one of the major players in global trade, have not yet started. While Hassett expressed optimism that these talks will likely occur, he did not provide a specific timeline.
Hassett also shared that there were a few deals that were being worked on ahead of the pause announcement. He specified that a 10% tariff is the baseline for these negotiations, and it would take an 'extraordinary' offer to consider lowering this level.
The Chinese economy is facing a shock it never expected, according to Hassett. However, the conversations between President Trump and President Xi of China have not yet begun, adding an element of uncertainty to the future of U.S.-China trade relations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.