Bloomberg Intelligence Trump Says Xi Call Yielded Rare Earths Progress, More Talks
5 snips
Jun 5, 2025 The conversation between Trump and Xi highlights progress on rare earth exports, shedding light on crucial global trade dynamics. U.S. economic signals reveal intriguing trends, especially concerning job markets and inflation risks. Tax bill negotiations are heating up with sharp debates over state and local tax deductions, showcasing bipartisan challenges. Additionally, Meta's pursuit of clean energy through virtual power agreements underscores the tech sector's commitment to sustainability amidst infrastructural hurdles. The complexities of financing multi-state transmission projects also raise essential questions for energy reliability.
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Rare Earth Export Progress
- Trump said the call with Xi was positive and likely resolved rare earth export issues.
- The U.S. relies on China for 30 out of 50 critical minerals, making this a key trade topic.
Economic Data Uncertainty
- Jobless claims hit an 8-month high, showing economic uncertainty.
- Seasonal distortions complicate interpretation of recent employment data.
Tax Bill Senate Challenges
- Senate tax bill negotiations hinge on deficit concerns and Medicaid work requirements.
- SALT deduction likely stays around $40,000 to secure enough Senate votes.
