alexsl/iStock via Getty Images
Seeking Alpha’s daily roundup of statements and remarks by newsmakers that could impact markets, sectors or individual stocks.
-President Trump announced Wednesday morning that a preliminary trade deal with the Chinese government had been reached.
“OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME. FULL MAGNETS, AND ANY NECESSARY RARE EARTHS, WILL BE SUPPLIED, UP FRONT, BY CHINA. LIKEWISE, WE WILL PROVIDE TO CHINA WHAT WAS AGREED TO, INCLUDING CHINESE STUDENTS USING OUR COLLEGES AND UNIVERSITIES (WHICH HAS ALWAYS BEEN GOOD WITH ME!). WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT! THANK YOU FOR YOUR ATTENTION TO THIS MATTER!,” Trump posted on Truth Social.
-Commerce Secretary Howard Lutnick said that U.S. tariffs levels on Chinese goods won’t change, even though a trade deal between the two nations has not been finalized.
When asked during a CNBC interview on Wednesday if the current tariffs were not going to change, Lutnick said, “You can definitely say that.”
-Tesla (NASDAQ:TSLA) CEO Elon Musk said he now regrets some of the statements he posted about President Trump during their online argument last week that was triggered by Musk’s harsh criticism of the Trump-backed spending bill making its way through Congress.
“I regret some of my posts about President @realDonaldTrump last week. They went too far,” Musk said in a post on X that he posted early Wednesday morning.
-Nvidia (NASDAQ:NVDA) CEO Jensen Huang expressed confidence in the state of quantum computing, adding that Nvidia (NASDAQ:NVDA) was actively partnering with supercomputing centers and quantum hardware developers in Europe on advancing quantum computing and hybrid AI-quantum research.
“Quantum computing is reaching an inflection point,” Huang said during a keynote speech at GTC Paris on Wednesday. “We are within reach of being able to apply quantum computing, quantum classical computing, in areas that can solve some interesting problems in the coming years.”
-Trump also called for the Federal Reserve to lower interest rates by a full percentage point in the wake of a better-than-expected inflation report by the Labor Department for May.
“CPI JUST OUT. GREAT NUMBERS! FED SHOULD LOWER ONE FULL POINT. WOULD PAY MUCH LESS INTEREST ON DEBT COMING DUE. SO IMPORTANT!!!,” Trump posted on Truth Social.
– Vice President J.D. Vance also criticized the Federal Reserve for not moving to lower interest rates.
“The president has been saying this for a while, but it’s even more clear: the refusal by the Fed to cut rates is monetary malpractice,” Vance said in a post on X on Wednesday morning.