What we covered here
• Trade war: President Donald Trump said his administration is actively speaking with China to get a “fair deal” on trade. Markets rallied after he signaled a potential cooling in the trade war, saying high tariffs on Chinese goods will “come down substantially, but it won’t be zero.”
• Putin meeting: US special envoy Steve Witkoff is expected to meet with President Vladmir Putin on Friday as the administration continues efforts to end the Ukraine war, a US official said. Trump declined to say today if a ceasefire deal would include a provision forcing Kyiv to recognize Moscow’s sovereignty over Crimea, illegally annexed by Russia in 2014.
• Musk’s future: Trump said Elon Musk’s announcement that he’s preparing to go back to Tesla was expected to happen around this time. Earlier, White House press secretary Karoline Leavitt did not deny reports that Treasury Secretary Scott Bessent and Musk shouted at each other in the White House last week.











