Bloomberg News Now June 26, 2025: Lutnick on US-China Trade Truce, Treasury Nixes 'Revenge Tax', More
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Jun 27, 2025 Recent U.S.-China trade developments are shaking up market dynamics, with a notable deal on rare earth minerals. In New York, Mayor Adams is gearing up for re-election while Cuomo's independent run adds intrigue. Nike is pivoting to a performance-focused strategy amidst challenges, showcasing how businesses adapt. Additionally, the importance of proactive technology in the workplace is highlighted, with insights on how outages can severely impact operations and illustrate the need for improved efficiency.
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US-China Trade Deal Insights
- The US-China trade deal finalizes commitments including China's agreement to deliver rare earth minerals.
- President Trump personally prefers to close these deals, reflecting his dealmaker style.
US Treasury Global Tax Agreement
- The US Treasury and G7 allies agreed to exempt American firms from some overseas taxes.
- In return, the US will scrap the 'revenge tax' aimed at foreign countries targeting US multinationals.
Medicaid Cut Hurdle in Senate
- A Republican effort to cut $250 billion from Medicaid faced a setback in the Senate.
- Key provisions were ruled ineligible for fast-track, complicating President Trump's legislative goals.