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US Lutnick: China goes to approve all functions for magnets for US corporations

Speaking on CNBC:

  • China is going to approve all applications for magnets for US companies
  • Trump-Xi has to approve final wording
  • I am really excited about how this is going to work for America
  • China is always trying to remove export controls.
  • This is an American agreement only. Not for other countries
  • We will take off counter measure
  • You can say CHina tariff levels will not change from here
  • Confirms 55% tariff on goods from China.
  • China said fentanyl halt is not on the table
  • We are competing with China on AI and chips.
  • We are not going to give them our best chips.
  • We stayed very positive for America, and I think it is positive for China as well.
  • If an American company applies for magnates, they would approve it right away.
  • So many trade deals coming. We will be focused on other deals starting today.
  • We are in good shape, but being in good shape is not good enough
  • Tariff deal after deal will start, and it will be starting next week, and the week after.
  • Europe is more than thorny

This article was written by Greg Michalowski at www.forexlive.com.

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