• Trump says India is ready to drop tariffs on US goods “to literally zero” as part of a new trade deal, while also pressuring Apple to shift production back to the US.
• Meanwhile, the US just halved its “de minimis” China tariff to 54%, and China lifted its Boeing ban—sending strong signals of de-escalation.
• Despite the optimism, Foxconn cut its outlook citing tariff uncertainty, and the EU threatens retaliatory duties if talks stall. Importers: things are warming, but far from settled.