Bloomberg Daybreak: Asia Edition Trump-Xi Agree to Trade Truce, Apple/Amazon Earnings
Oct 31, 2025
Max Baucus, the former U.S. ambassador to China, shares insights on the recent Trump-Xi trade truce, highlighting how China now negotiates from a position of strength and the strategic implications for U.S.-China relations. Meanwhile, investment strategist Ross Mayfield analyzes Apple and Amazon's earnings, noting that Apple's disappointing revenue in Greater China contrasts with Amazon's strong growth, driven by its cloud business. Both guests discuss the future of trade dynamics and market trends, as well as the impact on the tech landscape.
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Truce Stabilizes Not Solves
- The Trump-Xi truce likely stabilizes but does not resolve underlying US-China strategic tensions.
- Both countries use the one-year pause to buy time while reducing mutual dependence in key areas.
China Standing Taller Than Before
- China emerged from talks showing more confidence and willingness to stand toe-to-toe with the US.
- Max Baucus says Trump's respect for Xi's strength may improve bilateral rapport but not change structural rivalry.
Export Controls Were A Key Concession
- Trump backed off on expanding export controls, marking a notable concession on a national security front.
- Baucus views this as a major give to China with uncertain implementation details to follow.