US: Trump Outlines Latest On Tariffs Ahead Of Scotland Trip
President Donald Trump is delivering impromptu comments to reporters ahead of his flight to Scotland. Regarding trade deals, Trump says that he expects "we will have most deals to be done by 1 August [the deadline for 'reciprocal' tariffs being imposed], if not all".
- Trump gives 50-50 odds of a trade deal being reached with the European Union by this point. MNI's Policy team reported on 24 July that a deal involving a 15% baseline tariff for European goods and free access for US exports to the EU could be acceptable for Trump, but that there will not be agreement on mutual access for aircraft and spirits according to EU officials (see 'MNI: No US Tariff Exclusion For Aircraft, Spirits', 24 July)
- Says that with China, "we have the confines of a deal". China's Vice Premier He Lifeng will hold talks with Treasury Secretary Scott Bessent in Sweden next week (27-30 July) as part of a third round of talks. The US has a deadline of 12 August for a deal, but Bessent has said that this will likely be extended.
- Regarding Canada, Trump says the situation "could just be a tariff, not negotiation". PM Mark Carney said on 23 July, "Our objective is not to reach a deal whatever it costs...We are pursuing a deal that will be in the best interest of Canadians."
- Says that "some of the deals will be done by letter", rather than in-person negotiations. These letters will be sent "by Friday"
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
EQUITIES: US Cash Opening calls
- SPX: 6,111.8 (+0.3%).
- DJIA: 43,130 (+0.1%/+41pts).
- NDX: 22,316.5 (+0.6%).
EQUITY TECHS: E-MINI S&P: (U5) Northbound
- RES 4: 6249.00 High Feb 21
- RES 3: 6200.00 1.50 proj of the Apr 7 - 10 - 21 price swing
- RES 2: 6172.50 High Feb 24
- RES 1: 6157.75 Intraday high
- PRICE: 6147.00 @ 07:25 BST Jun 25
- SUP 1: 5959.00/5922.67 Low Jun 23 / 50-day EMA
- SUP 2: 5811.50 Low May 23
- SUP 3: 5645.75 Low May 7
- SUP 4: 5500.00 Low Apr 30
The trend condition in S&P E-Minis is unchanged, it remains bullish and this week’s fresh cycle high reinforces current conditions. Short-term resistance and a bull trigger at 6128.75, the Jun 11 high, has been breached. The clear break confirms a resumption of the uptrend that started Apr 7. Sights are on the 6200.00 handle, a Fibonacci projection. Key support remains at the 50-day EMA - at 5922.67. A clear break of it would signal a reversal.
MNI EXCLUSIVE: European Officials Look at the Impact of Spain's NATO Policies
- European officials look at the impact of Spain's NATO policies on its standing within the EU -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
