Jefferies: Trump-Xi Talks Unlikely to Yield Breakthroughs on Chips and Rare Earths; Boeing May Benefit
nashnova research
Jefferies says Thursday's Trump-Xi meeting won't loosen semiconductor or rare-earth controls; Boeing and medical devices are the likeliest beneficiaries.
What is the most likely concrete outcome?
Jefferies sees the Board of Trade — a body to oversee tariff reductions across a range of products — as the "most likely deliverable."
This means → the talks center on tariff mechanics, not on easing strategic-industry controls.
Which US industries stand to gain?
Jefferies names Boeing aircraft and medical devices as the top beneficiaries, citing recent remarks by US Trade Representative Jamieson Greer.
Agriculture and energy products are also flagged as potential winners.
In plain terms = everything on the table is "non-sensitive" goods — planes, medical equipment, farm products, energy. Chips are nowhere near the discussion.
Why are chips and rare earths off the table?
Jefferies states explicitly that neither side will touch strategically important industries.
The direct quote: "We would not price in a loosening of semiconductor or rare-earth controls."
This means → any market bet on chip-export relief from this round of talks is very likely to be disappointed.
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