- Says would not be surprised if China-US tariffs went down in a mutual way
- Declines to comment on earlier WSJ story
- Tariff rates are unsustainable
- Does not have time frame for start of China talks, will have to take place at lower levels than Trump-Xi
- With India, we are very close to a tariff deal
- Tariff negotiations will not be an extended process at all
- US-Japan talks don't have specific FX level targets
- I am expecting current tax policy to be extended and a great part of that to be permanent
- Full China-US trade deal could take 2-3 years
US stocks are giving back some gains and the bitcoin has slipped particularly badly.
Update: Ok there is some good and bad news here. The good news is that he said a full rebalancing process could take 2-3 years, not just the negotiations. He also indicated some level of being outside of the loop, saying that "I'd be surprised if that discussion is happening" regarding a unilateral cut in US traiffs, adding that were be no unilateral offer from the US side. It's a reminder that it's really just one man making the decisions.
