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US Seeks Tariff Cuts in China Talks, Pope Leo Celebrates First Mass | Bloomberg The Pulse 05/09
The Trump administration is weighing a dramatic tariff reduction during weekend talks with China to de-escalate tensions and temper the economic pain both are already starting to feel. People familiar with preparations for the talks, which are due to begin in Geneva on Saturday led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, say the US side has set a target of reducing tariffs below 60% as a first step that they feel China may be prepared to match. Progress in two days of scheduled discussions could see those cuts being implemented as soon as next week, they said. Meanwhile Pope Leo XIV, the first ever pope from the US, celebrated his first Mass as pontiff on Friday. Cardinal Robert Francis Prevost is seen as a possible bridge between the moderate and hardline sides of a divided Church.
Today's guests: Jari Stehn, Goldman Sachs Chief European Economist, Gediminas Šimkus, Bank of Lithuania Governor, Shevaun Haviland, British Chambers of Commerce Director-General
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"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
Chapters:
00:00:00 - The Pulse With Francine Lacqua
00:00:43 - UK, US Reach Deal on Trade Framework
00:02:37 - UK, US Deal Met With Skepticism
00:04:43 - Trump Team Seeks Tariff Cuts, Rare Earths Relief in China Talks
00:09:39 - Jari Stehn, Goldman Sachs Chief European Economist
00:16:56 - Gediminas Šimkus, Bank of Lithuania Governor
00:24:53 - Shevaun Haviland, British Chambers of Commerce Director-General
00:34:36 - Commerzbank 1Q Profit Surprises
00:44:11 - Gates: Hopes US Funding Stays in Place
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Published May 9, 2025
