US and China Agree on Plan to Cool Trade Tensions
Flags in the entrance during trade talks at Lancaster House in London.
Photographer: Chris J. Ratcliffe/Bloomberg
Good morning. The US and China agree on a plan to ease trade tensions. Scott Bessent is said to be a contender for the US Federal Reserve chair. And Nintendo’s Switch 2 sales smash a record. Listen to the day’s top stories.
The US and China agreed to a preliminary pact to reduce trade tensions. Full details weren’t available, but American negotiators expect issues including rare earths to be resolved. Financial markets mostly shrugged off the news. Meanwhile, Donald Trump scored a win as an appeals court ruled the president can keep his global tariffs in place for now. And European Central Bank chief Christine Lagarde warned that being a bully on global commerce won’t work longer term.