Bloomberg Podcasts · Bloomberg News Now: Trump Noncommittal to China's Xi, US & Iran Postpone Talks

1. 1. Chinese President Xi Jinping will travel to the U.S. for a state visit on September 24th, aligning with the UN General Assembly.
2. 2. The U.S. and China agreed to set up trade and investment councils, with details still being negotiated.
3. 3. U.S. Trade Representative Jamison Greer discussed creating a Board of Trade that would reduce tariffs on at least $30 billion in non-critical goods.
4. 4. President Trump made no commitments to Xi regarding Taiwan and stated U.S. policy on Taiwan has not changed, but he does not want Taiwan to declare independence.
5. 5. Trump is considering easing sanctions on Chinese oil companies that purchase from Iran, but says he does not need China's help to pressure Tehran on the Strait of Hormuz.
6. 6. Iran's foreign minister says the US agreed to postpone talks on Iran's enriched uranium stockpile, while the Strait of Hormuz remains largely shut.
7. 7. Bond yields rose on inflation concerns, with the 10-year yield up nine basis points to 4.57%, and stocks fell led by the Nasdaq down 1.1%.
8. 8. Incoming Fed Chair Kevin Warsh is not expected to deliver swift rate cuts but may be more patient, with no reason to hike quickly.
9. 9. An anonymous bidder paid $9 million to have lunch with Warren Buffett, NBA star Stephen Curry, and his wife Aisha, supporting charities Glide and Eat, Learn, Play.