Overview

• President Trump announced a preliminary trade framework with the UK, marking the first such agreement since the April tariff escalation.
• The U.S. maintains a 10% baseline tariff on UK goods, while Britain reduces car tariffs and expands access to U.S. agricultural exports.
• U.S. Treasury Secretary Scott Bessent and USTR Jamieson Greer are set to meet with Chinese officials in Switzerland this weekend for high-level trade talks.
• U.S. and Asian markets rallied on optimism surrounding the UK deal and the potential for reduced tariffs on Chinese imports.
• Bitcoin surged past $100,000, reflecting renewed investor confidence tied to easing global trade tensions.