Treasury Secretary Bessent said the Trump administration will weigh China's lack of compliance with the "phase one" trade deal from the president's first term in current negotiations.

I would guess that India would be one of the first trade deals we would sign. So watch this space,” Bessent added. In addition to his assessment of the situation with China a

The view that the Chinese leadership was desperate to negotiate a trade deal, to avoid economic pain that could destabilize Chinese society and threaten the Chinese Communist Party’s monopoly on power, is common among China hawks in the United States. This analysis is partly accurate, but it has led many to draw false conclusions.

Also in today’s newsletter, Canada’s Carney prepares to take on Trump, and China’s copper stockpiles set to run out

Xi's Shanghai trip, his first to China's main international financial hub since November 2023, comes at a time when the tariff fight with the U.S. has raised the stakes for global