Willing to Extend Jul. 8 Deadline for Trade Talks
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Chinese exports of rare earth minerals, which are vital to carmakers and other industries, and China's access to high-end technology from the U.S., including computer chips, are high on the agenda.
The United States and China have agreed on a framework to implement their trade truce, officials on both sides said Wednesday, after concluding two days of talks in London to defuse tensions and ease export restrictions that threaten to disrupt global manufacturing.
The treasury secretary's remarks indicate the Trump administration might be more inclined to shift the self-imposed deadline as it gets closer.
As trade talks conclude, the latest trade data shows a sharp drop in Chinese imports — the lowest level since the pandemic.
• Semtech has a price-to-sales (P/S) ratio of 3.4 against a figure of 3.0 for the S&P 500 • Additionally, the company's price-to-free cash flow (P/FCF) ratio is 52.6 compared to 20.5 for the S&P 500
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Canadian Prime Minister Mark Carney said he hopes to secure a commercial and security agreement soon with US President Donald Trump, though he tamped down expectations that a deal will be ready in time for the Group of Seven summit in a few days.
US stocks closed higher as investors wait for news from another day of China-US trade talks in London. Key inflation data are also ahead.
High-level trade talks between the U.S. and China wrapped up in London late Tuesday. But the negotiations are far from over.Representatives agreed to keep talking along the lines of the agreement reached in Geneva last month to temporarily lower tariffs.