Trump administrators will come to trade transaction framework agreement with China
President Donald Trump and Chinese officials agreed to a trade contract framework to include tariffs and eased rare earth restrictions.
U.S. stock futures have fallen low after President Donald Trump has reinstated tariff tensions by re-promising a unilateral tariff rate within two weeks.
He said he will send letters to his trading partners in the coming weeks ahead of the July 9 deadline, ahead of the deadline to reimpose dozens of economies’ higher obligations.
Trump’s new tariff threat contrasts with a more aggressive tone after reaching London’s trade framework with China and earlier remarks from the Treasury Department.
Bescent said during a hearing in front of the House that the Trump administration is open to extending the current 90-day tariff suspension beyond July 9 for top US trading partners, as long as they show “good faith” in ongoing trade negotiations.
Futures linked to the Blue Chip Dow fell by -0.60%, while Broad S&P 500 futures fell by -0.41%, while Tech Heavy Nasdaq futures went -0.35. I slid the %.
More inflation data
Another set of inflation data is scheduled before the opening bell. According to Bank of America economists, producer prices, or prices for goods and services, are expected to rise 2.3% in May. Without the volatile food and energy sector, producer prices would have risen 2.7%, they said.
Some economists expect tariff-related inflation to appear to be seen first, so that businesses can see inflation first before price increases are taken over by them.
Corporate News
- Oracle’s results featured Street View in the last three months of the fiscal year. The company also said cloud infrastructure revenues would rise by more than 70% in fiscal year 2026, up from a 50% growth rate in the previous fiscal year.
Medora Lee is a money, market and personal finance reporter for USA Today. You can contact her at mjlee@usatoday.com and subscribe to our free daily money newsletter for personal finance tips and business news every Monday to Friday morning.