Overview

• U.S. Treasury Secretary Scott Bessent said Washington “has the makings” of a deal and remained optimistic about the path forward.
• Chinese foreign ministry spokesman Lin Jian called on both sides to follow leaders’ consensus and strive for positive outcomes.
• President Donald Trump avoided committing to an extension, telling reporters “we’ll see what happens” when asked about the looming deadline.
• Chipmakers Nvidia and AMD agreed to allocate 15% of revenue from advanced exports to the U.S. government in exchange for China export licenses.
• Federal Reserve officials and economists warn that reinstated tariffs at planned levels could drive U.S. consumer prices even higher.