Overview

• Senior US officials including Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer are meeting Chinese Vice Premier He Lifeng in London for a second round of trade negotiations.
• A provisional tariff truce currently caps US duties on Chinese goods at 30% and China’s levies on American imports at 10%, established under a preliminary agreement in Geneva.
• China’s National Bureau of Statistics reported that consumer prices fell 0.1% in May for a fourth consecutive month and producer prices declined 3.3%, intensifying deflationary pressures.
• Customs data showed China’s export growth slowed to 4.8% year-on-year in May while imports dropped 3.4%, widening the trade surplus to $103.2 billion.
• Investors are awaiting US inflation data due midweek to gauge how tariffs are affecting prices and to anticipate the Federal Reserve’s policy stance at its June 18 meeting.