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cover of episode President Trump Pushes Powell on Rates; Bessent Says China Talks Stalled

President Trump Pushes Powell on Rates; Bessent Says China Talks Stalled

2025/5/30
logo of podcast Bloomberg Daybreak: US Edition

Bloomberg Daybreak: US Edition
AI Deep Dive AI Chapters Transcript
People
A
Alan Garber
B
Bernard Carrick
B
Bill Farris
C
Caroline Leavitt
C
Costco
D
Derek Walbank
G
Gap
J
John Stashower
P
President Trump
R
Rebecca Patterson
S
Scott Besson
Topics
Derek Walbank: 作为彭博社的资深经济和政府编辑，我认为尽管美国政府在90天的暂停窗口期试图与个别国家达成协议，但实际进展不大。即使有暂时的缓解，上诉法院仍有可能支持最初的裁决，阻止特朗普总统的关税政策。 Scott Besson: 作为财政部长，我认为目前与中国的贸易谈判处于停滞状态。我相信未来几周内我们将与中国进行更多谈判，并且可能需要特朗普总统和习近平主席之间的通话才能达成协议。 Bill Farris: 作为彭博新闻的资深编辑，我认为联邦上诉法院暂时允许总统的关税生效，但情况每天都在变化。美国贸易法院基本上认为特朗普总统自1月以来颁布的大部分关税都是非法的，必须在10天内取消。上诉法院暂停了贸易法院的决定，表示需要更多时间来评估，并维持现状。上诉法院仍可能做出对白宫和特朗普政府不利的关税裁决。白宫表示，即使在最高法院败诉，他们也有其他工具来确保他们对关税的关注持续下去。特朗普总统第一任期内对中国实施的301条款关税仍然有效。白宫选择宣布国家紧急状态来征收关税，因为这是最快和最容易实施其政策的方式。其他立法选项需要更多时间，可能不是永久性的，并且会受到法律诉讼的影响。法院质疑以芬太尼和贸易逆差为由宣布国家紧急状态，认为这不足以对所有国家全面征收关税。与中国的贸易谈判似乎有些停滞。如果外国政府认为白宫将继续以某种方式推动关税，那么他们可能会在与美国谈判时采取更强硬的立场。 Rebecca Patterson: 作为前桥水联合公司的首席投资策略师，我认为我们最终确定的关税水平仍将远高于年初的水平。我认为美国国债收益率将保持粘性或有上升的倾向，这将对股市情绪构成限制。 Gap: 作为服装零售商，我们预计如果对来自中国的大部分商品维持30%的关税，对其他国家维持10%的关税，预计将产生2.5亿至3亿美元的影响。 Costco: 作为零售商，我们正在采取措施应对关税，包括重新安排货物路线，更多地采购本地生产的商品，并逐项审查潜在的价格变化。

Deep Dive

Chapters
A federal appeals court temporarily blocks a ruling that threatens to invalidate most of President Trump's tariffs. Treasury Secretary Scott Bessent reports that trade talks with China are stalled, suggesting a potential need for direct communication between President Trump and President Xi Jinping to resolve the impasse.
  • Federal appeals court temporarily blocks ruling against Trump's tariffs
  • Trade talks with China have stalled
  • Possible need for direct communication between Trump and Xi Jinping

Shownotes Transcript

On today's podcast:      

  1. A federal appeals court temporarily blocks a ruling that threatens to throw out the bulk of President Trump's tariff agenda. Traders are reassessing their appetite for riskier assets amid concerns over weaker growth and fiscal strain, with the setup being "quite pessimistic" according to an investment officer.  

  2. President Trump pushes Fed Chair Jay Powell to lower rates at a meeting at the White House. The president told Powell that not lowering rates is putting the US at an economic disadvantage to China and other countries, and Powell stressed that the path of policy will depend on incoming economic information.  

  3. Treasury Secretary Scott Bessent says trade talks with China have stalled. Bessent believes more talks will happen with Chinese officials "in the next few weeks" and sees the personal involvement of both country leaders as essential.

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