At a press event following his meeting with Italy's Prime Minister Meloni, President Donald Trump touched on U.S.-China trade, tariff revenues, Federal Reserve leadership, and ongoing negotiations with major economies. Here are the highlights:

On China Trade Talks

• “We're going to make a deal… I think we're going to make a very good deal with China.”

• Not worried about recent visits between President Xi and U.S. allies: “No… nobody can compete with us—nobody.”

On Tariff Revenues

• “We're getting 25% on cars, 25% on steel, 25% on aluminum… a 10% baseline on everything else.”

• “We're taking in hundreds of billions of dollars”—a revenue stream the administration says it never saw before.

On Negotiations with Key Economies

• “We're working on the big 15 economies first.”

• Treasury Secretary Scott Bessent: “Fantastic meeting with Japan… EU talks underway… Korea next week, India soon—moving very quickly.”

On Fed Chair Jerome Powell

• “He's always too late, a little slow…I'm not happy with him. If I want him out, he'll be out of there real fast.”

• White House insiders warn removing Powell could unsettle financial markets.

Market Impact & Sector Valuations

Trump's remarks drove volatility across equities and fixed income, with tariff-sensitive sectors particularly on edge. To monitor how sector valuations are reacting in real time, consult the
🔗 Sector PE Ratio Market Overview API from Financial Modeling Prep.