Closing Bell Closing Bell Overtime: Treasury Secretary Bessent On Trade With Canada, China and Europe 6/27/25
Jun 27, 2025
U.S. Treasury Secretary Scott Bessent discusses critical trade negotiations with Canada and China, revealing insights into the complexities of pulling out of talks and the state of a rare minerals deal with China. He also addresses rumors about potentially replacing Fed Chair Powell. Alongside him, market commentator Mike Santoli analyzes record highs for the S&P 500 and Nasdaq, explores investor sentiment amid bond yield fluctuations, and interprets market movements reflecting ongoing trade tensions. It's a candid dive into the intersection of politics and market dynamics.
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Canada Trade Talks End
- The U.S. terminated trade talks with Canada over retroactive digital services taxes.
- These unfair taxes discriminate against American tech companies, prompting possible trade retaliations.
EU Digital Taxes Differ
- Several EU countries have digital service taxes, but none are retroactive, unlike Canada.
- The U.S. is actively negotiating to eliminate these taxes to protect American tech firms.
China Rare Earths Deal Update
- The U.S.-China trade agreement primarily ensures flow of rare earth magnets under a licensing regime.
- The U.S. will lift countermeasures once shipments resume reliably after previous Chinese restrictions.