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Bessent Calls China Talks ‘Successful’; U.S.-China AI Hotline & Trade Board Go Live Ahead of Trump-Xi Summit

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‼️ 🇨🇳 🇺🇸 Treasury Secretary Scott Bessent called his meeting with Chinese Vice Premier He Lifeng “successful” ahead of the Sept. 24 Trump–Xi summit, noting agreement to launch a U.S.–China AI dialogue with a proposed incident-notification mechanism, while USTR Jamieson Greer said the two sides have “operationalized” the U.S.–China Board of Trade to advance trade negotiations.

Tariff‑Fuel‑Rate Triple Squeeze Crushes Industrial Margins

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Alpha Binwani Capital: “Rising tariffs, fuel costs, and interest rates are compressing margins across autos, chemicals, and other industrial sectors as higher material, transport, and inventory-financing costs squeeze producers unable to fully pass through price increases; cash-rich, long-duration borrowers are far better insulated than smaller, highly leveraged peers who risk demand destruction if they push prices too far”

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