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.