TARIFFS: Brazil And US To Hold Trade Negotiations In Washington On Thursday
Oct-15 15:39
Reuters reports that Brazilian President Luiz Inácio Lula da Silva said Brazil and the US will hold “negotiation talks on tariffs on Thursday.” Reuters notes, “Brazilian Foreign Minister Mauro Vieira and United States State Secretary Marco Rubio agreed last week on a meeting between teams from both countries in Washington to discuss trade.”
- Following a 30-minute call last week, Lula and US President Donald Trump agreed to meet in person “soon,” and exchanged phone numbers “to establish direct communication,” according to a Brazilian readout.
- The talks come amid a thaw in Trump’s rhetoric toward Brasilia since a brief meeting between the two leaders at the UN General Assembly last month. But a 50% US tariff on Brazilian goods remains in place, with Brazil looking to reroute exports.
- Jorge Viana, head of the Brazilian Trade and Investment Promotion Agency, said in an interview: “Perhaps the biggest increase in trade flows we’ll see, regardless of the tariff hike, but also because of it, will be with India.”
- Bloomberg reported today that, responding to Trump's tariffs, Brazil and India are looking to “forge new relationships and triple their $12 billion trade partnership.” A Brazilian delegation in India this week, “is likely to discuss potential partnerships with Indian business leaders in areas including agribusiness, biofuels and defense.”
- Bloomberg notes, “While both [Indian PM] Modi and Lula are maneuvering to improve their standing in Washington, they’re also effectively hedging their economic bets to cope with being squeezed by Trump.”
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US-CHINA: Chinese Negotiator Confirms TikTok 'Framework Agreement'
Sep-15 15:32
MNI London: China’s top trade negotiator, Li Chenggang, has described two days of meetings with US Treasury Secretary Scott Bessent and USTR Jamieson Greer on issues of ‘common concern’ as “in-depth, candid, and constructive.”
- Li said, per Reuters, that “both sides acknowledged stable trade ties is significant,” adding that while “frictions are normal”, it is “important to respect each other's core concerns.”
- Li confirms earlier comments from Bessent, saying a “framework agreement” has been reached regarding China’s divestment from the social media platform TikTok, a central focus of the talks.
- Li says, the sides will, “keep close communication, engage in consultation over detail of outcome documents.” Adds that the two sides will “jointly guide companies to have a good follow-up.” Li said China the TikTok agreement was "based on our assessment and judgement… the consensus is in mutual interests."
- The Wall Street Journal notes, “China, which had until now shown little appetite for a deal on the wildly popular app, likely conceded to the agreement to keep alive Beijing’s ambition for President Trump to visit China.”
- More sharply, Li claimed that the US “continued sanctions on Chinese entities” following previous rounds of talks. Alleges the US “generalise national security”, in a way that constitutes “unilateral bullying”.
- Li said China “will not sacrifice interests of firms in order to reach a deal,” adding that, “China firmly safeguards Chinese firms' legitimate rights and interests”. Li adds the US "expressed willingness to work with China in reducing investment barriers."
FED: US TSY 26W BILL AUCTION: HIGH 3.715%(ALLOT 13.53%)
Sep-15 15:32
- US TSY 26W BILL AUCTION: HIGH 3.715%(ALLOT 13.53%)
- US TSY 26W BILL AUCTION: DEALERS TAKE 26.13% OF COMPETITIVES
- US TSY 26W BILL AUCTION: DIRECTS TAKE 6.89% OF COMPETITIVES
- US TSY 26W BILL AUCTION: INDIRECTS TAKE 66.98% OF COMPETITIVES
- US TSY 26W BILL AUCTION: BID/CVR 3.09
FED: US TSY 13W BILL AUCTION: HIGH 3.905%(ALLOT 8.09%)
Sep-15 15:32
- US TSY 13W BILL AUCTION: HIGH 3.905%(ALLOT 8.09%)
- US TSY 13W BILL AUCTION: DEALERS TAKE 29.15% OF COMPETITIVES
- US TSY 13W BILL AUCTION: DIRECTS TAKE 6.56% OF COMPETITIVES
- US TSY 13W BILL AUCTION: INDIRECTS TAKE 64.30% OF COMPETITIVES
- US TSY 13W BILL AUCTION: BID/CVR 3.11
