China hails Trump trip

Bloomberg Morning Briefing Americas  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

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Good morning. President Trump wraps up his China trip, but we explore why Beijing’s dominance in rare earths is still a big problem. And why is strolling around the course no longer enough exercise for today’s golfers? Listen to the day’s top stories. — Lucy Meakin Market Snapshot S&P 500 Futures 7,465.75 -0.8% Nasdaq 100 Futures 29,334.50 -1.2% Bloomberg Dollar Spot Index 1,200.36 +0.2% Market data as of 07:06 AM ET. Data is subject to provider delays. Your watchlist Donald Trump departed China, with his host President Xi Jinping hailing a new relationship between the two largest economies, projecting optimism despite unresolved tensions and little in the way of deals inked so far. Trump said the US and China share common goals for ending the Iran war, while Beijing struck a measured tone in urging further diplomacy. Tensions over Iran were evident back home as well. The Republican-controlled House tied on a vote to stop the war in a sign of deepening political opposition to the conflict. As for the Middle East, a Bloomberg exclusive revealed how the UAE tried to persuade its neighbors to take part in a coordinated military response to Iranian strikes and was left frustrated. Buying American. Trump bought tens of millions of dollars in stocks and bonds of major American companies in the first quarter, his latest financial disclosures showed. The president’s independent financial managers, who make his investment decisions for him, snapped up as much as $5 million each in Nvidia, Oracle, Microsoft, Boeing and Costco. California Governor Gavin Newsom proposed a new tax on cloud-based software sales, turning to tech for new revenue as the state’s budget is lifted by the AI boom. But it may not mean your Netflix is about to get even more pricey: the plan doesn’t include content streaming platforms. The Great Wealth Transfer Includes $570 Billion in Classic Cars For Gen Xers and millennials, inheriting a loved one’s car often means weighing nostalgia against practicality. Read more Spring Sale: Save 60% on your first year Get the numbers behind the narratives. Enjoy unlimited access to Bloomberg.com and the Bloomberg app, plus market tools, expert analysis, live updates and more. Offer ends soon. Unlock 60% off Deep Dive: The Rarest Earths Billions of dollars have been poured into Trump’s effort to break America’s dependence on the rare earths that remain China’s unbeatable leverage over the global economy. Yet the ones that matter most remain out of reach. China’s grip will probably loosen by the end of the decade on some of the more abundant light rare earths used in a huge array of consumer electronics, due to US efforts to find independent sources. But when it comes to so-called heavy rare earths—essential for high-performance magnets and military technologies—Beijing’s dominance looks set to persist until at least the mid-2030s. For two of the rarest and most important elements, dysprosium and terbium, countries outside of China will still meet less than a fifth of demand by 2035. Watch our documentary on US attempts to break China’s chokehold, or check out our explainer on why that’s so proving hard. The Big Take Andy Jassy Photographer: Michael Nagle/Bloomberg Andy Jassy is rewriting Amazon’s playbook for the AI age. Five years into his stint as CEO, he’s killing projects, cutting staff, pleasing Wall Street and steering the everything store through its greatest challenge yet. Big Take Podcast The $100 Billion Gen Alpha Economy Coming soon: Get the AI Today newsletter—chronicling the disruptions and threats of AI on businesses, workers, governments and economies with analysis from Bloomberg’s global newsroom. Opinion A television station broadcasts Jerome Powell. Photographer: Michael Nagle/Bloomberg Federal Reserve Chair Jerome Powell ends his tenure with a legacy mostly cemented, Jonathan Levin writes. Having faced an unprecedented series of policy crises, he leaves with a not-unblemished score card, but one he can still celebrate. More Opinions Howard Chua-Eoan This Year’s Venice Biennale Breakout? The Culturemogger Andrea Felsted Swatch Is Seeking a Royal Pop From Audemars Piguet Hype Play Alphadots! Our daily word puzzle with a plot twist. Today’s clue is: Service with a key takeaway? Play now! Before You Go Scotty Scheffler. Photographer: Ben Jared/PGA Tour/Getty Images Are you fit or golf fit? Gone are the days when walking 18 holes instead of driving a cart was considered the only exercise necessary for a decent game. Today’s serious amateurs don’t even just lift weights; they dabble in everything from isometrics to yoga. Here’s the strength and mobility exercises you need to know about. A Couple More What Comes After Peru’s Food Revolution? How Much Is a Child’s Privacy Worth? More From Bloomberg Enjoying Morning Briefing Americas? Get more news and analysis with our regional editions for Asia and Europe. Check out these newsletters, too: AI Today chronicles the disruptions and threats of AI Market Moves delivers the pulse of the market to your inbox Markets Daily has what’s moving in stocks, bonds, FX and commodities Opinion Today for an afternoon roundup of our most vital opinions Texas Edition dives into the companies and people powering America’s second-largest economy Explore all newsletters at Bloomberg.com. We’re improving your newsletter experience and we’d love your feedback. If something looks off, help us fine-tune your experience by reporting it here. Follow Us You received this message because you are subscribed to Bloomberg’s Morning Briefing Americas newsletter. 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