Politico is reporting that the White House says that they are close on Japan and India trade agreement:
- The White House is closing in on general agreements with Japan and India to stave off massive US tariffs, but they are likely to leave many of the thorny details to be hashed out at a later date.
- Administration officials are working to eight what three people close to the White House described as memorandums of understanding or a broad architecture for future deals.
- May take months to hammer out the final deals as these things are complicated.
Meanwhile, from Bessent:
- No one thinks the current status quo is between China is sustainable. Therefore there will be de-escalation with China over the very near future.
- Goal is not to decouple US, China economies
- US rebalancing with China, but questions is whether Beijing is ready to do it seeks
This article was written by Greg Michalowski at www.forexlive.com.
