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10h ago

US-UK Trade Framework Boosts Markets Ahead of US-China Talks

The first trade deal since Trump’s tariff campaign stabilizes relations with the UK, while investors anticipate potential progress in high-stakes US-China negotiations this weekend.

U.S. dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez/Illustration/File Photo
Trader Drew Cohen works on the floor of the New York Stock Exchange, Thursday, May 8, 2025. (AP Photo/Richard Drew)
Trader Patrick Casey, center, works on the floor of the New York Stock Exchange, Thursday, May 8, 2025. (AP Photo/Richard Drew)
Trader Michael Capolino works on the floor of the New York Stock Exchange, Thursday, May 8, 2025. (AP Photo/Richard Drew)

Overview

  • President Donald Trump announced a preliminary trade framework with the UK, maintaining a 10% US tariff on British imports while reducing UK tariffs on US goods to 1.8%.
  • Global markets responded positively, with Wall Street benchmarks rising over 1% and Bitcoin surpassing $100,000, reflecting renewed appetite for riskier assets.
  • The agreement is seen as a potential model for future trade deals, including upcoming negotiations with China, where tariffs currently reach as high as 145%.
  • US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are set to meet Chinese officials in Switzerland this weekend for what Trump predicts will be 'substantive' discussions.
  • Asian and European markets showed mixed reactions, with optimism tempered by caution as investors await tangible outcomes from the US-China talks.