#US-China trade

#US-China trade

If you don't support yourself, who will? That appeared to be President Donald Trump's motto on Sunday night, with the commander-in-chief posting a picture of himself to Truth Social that included an Instagram-like caption that sang his praises for working like a dog for no money in order to save a Country that doesn't appreciate his sacrifice! The picture was of Trump walking, looking a bit tired and glum, on the White House lawn.

Top U.S. and Chinese officials met in Malaysia on Saturday to lay the groundwork for a summit between Donald Trump and Xi Jinping, with some on Wall Street saying Beijing overplayed its hand by imposing draconian restrictions on rare earth exports. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held negotiations that the U.S. characterized as constructive. But sources told the Financial Times China was reluctant to ease the export controls.

The Trump administration is considering a plan to curb a dizzying array of software-powered exports to China, from laptops to jet engines, to retaliate against Beijing's latest round of rare earth export restrictions, according to a US official and three people briefed by US authorities. While the plan is not the only option on the table, it would make good on Donald Trump's threat earlier this month to bar critical software exports to China

After a record session for the Dow, markets are little changed. At the moment, the Dow is down about five points. The S&P 500 is up about four, with the NASDAQ down about 36 points. Not helping, Netflix ( NASDAQ: NFLX) slumped after posting an earnings miss. Its EPS of $5.87 was below expectations for $6.97, thanks to a dispute with Brazilian tax authorities. Revenue of $11.51 billion was in line, though. Moving forward, Tesla ( NASDAQ: TSLA) will post earnings after the bell.

When you are facing a nonmarket economy like China, then you have to exercise industrial policy, Bessent said. The Treasury Secretary explained that China has put rare earth mineral companies out of business by massively dropping their own prices. We're going to set price floors and the forward buying to make sure that this doesn't happen again, and we're going to do it across a range of industries, he said.