{"id":54682,"date":"2025-10-17T08:08:36","date_gmt":"2025-10-17T12:08:36","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/trump-signals-tariff-shift-amid-economic-optimism-state-street-beats-q3-estimates\/54682\/"},"modified":"2025-10-17T08:08:36","modified_gmt":"2025-10-17T12:08:36","slug":"trump-signals-tariff-shift-amid-economic-optimism-state-street-beats-q3-estimates","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-signals-tariff-shift-amid-economic-optimism-state-street-beats-q3-estimates\/54682\/","title":{"rendered":"Trump Signals Tariff Shift Amid Economic Optimism; State Street Beats Q3 Estimates"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>President Trump indicated that a 100% tariff on China is &quot;not sustainable&quot;<\/strong>, suggesting a potential easing of trade tensions ahead of an anticipated meeting with Chinese counterparts.<\/li>\n<li><strong>White House Economic Adviser Kevin Hassett expressed confidence in sustained 4% U.S. economic growth<\/strong> and signaled that expected Federal Reserve rate cuts are just the beginning.<\/li>\n<li><strong>State Street (<a href=\"\/stock\/STT\">STT<\/a>) outperformed Q3 2025 earnings estimates<\/strong>, reporting adjusted EPS of <strong>$2.78<\/strong> on <strong>$3.55 billion<\/strong> in revenue, driven by strong fee revenue growth.<\/li>\n<li><strong>The UK&#39;s Competition and Markets Authority (CMA) is set to release Google (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>) from its Privacy Sandbox commitments<\/strong>, a move that could reshape the digital advertising landscape.<\/li>\n<li><strong>Abu Dhabi conglomerate IHC announced a massive expansion plan<\/strong>, committing to spend <strong>$36 billion<\/strong> every 18 months.<\/li>\n<\/ul>\n<p>President Donald Trump has signaled a potential shift in his administration&#39;s approach to China tariffs, stating that a 100% tariff is &quot;not sustainable&quot; and that he believes relations with China &quot;will be fine.&quot; These comments come as both nations prepare for a meeting in the coming weeks to address trade relations, which Trump emphasized must result in a &quot;fair deal.&quot; White House Economic Adviser Kevin Hassett echoed a nuanced view, acknowledging China&#39;s &quot;little bit of leverage&quot; but asserting that further retaliatory actions, such as on rare earths, would ultimately hurt China more. Hassett also expressed confidence that the U.S. and China can &quot;get back to a place that is good for both countries.&quot;<\/p>\n<p>On the domestic front, Hassett offered an optimistic outlook for the U.S. economy, stating there is &quot;no reason 4% [growth] can&#39;t continue.&quot; He also commented on monetary policy, suggesting that the Federal Reserve&#39;s &quot;expected three rate cuts are a start,&quot; indicating a potential for further easing. Hassett affirmed the independence of the Federal Reserve, a stance he has consistently held. He also assured that &quot;banks have ample reserves&quot; and expressed optimism about staying &quot;ahead of the curve&quot; in credit markets. Hassett warned that if a government shutdown continues past the weekend, President Trump could &quot;ramp up actions.&quot;<\/p>\n<p>In corporate news, <strong>State Street Corporation<\/strong> (<a href=\"\/stock\/STT\">STT<\/a>) reported strong third-quarter 2025 earnings, surpassing analyst expectations. The financial services giant posted an adjusted <strong>EPS of $2.78<\/strong>, exceeding estimates of <strong>$2.66<\/strong>, on revenues of <strong>$3.55 billion<\/strong>, which also beat the <strong>$3.47 billion<\/strong> estimate. While net interest income came in slightly below estimates at <strong>$715 million<\/strong>, the company&#39;s assets under management (AUM) reached <strong>$5.41 trillion<\/strong>. State Street also reported a <strong>credit loss provision of $9 million<\/strong> and a <strong>return on equity (ROE) of 13.4%<\/strong>.<\/p>\n<p>Meanwhile, the UK&#39;s Competition and Markets Authority (CMA) is moving to release <strong>Google<\/strong> (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>) from commitments related to its <em>Privacy Sandbox<\/em> initiative. This development follows Google&#39;s decision in April 2025 to abandon plans to prompt users to block third-party cookies from Chrome, a move that the CMA believes negates the need for its previous oversight. The CMA had initially imposed these commitments to ensure that Google&#39;s Privacy Sandbox would not unfairly favor its own advertising services.<\/p>\n<p>In global investment news, Abu Dhabi conglomerate <strong>IHC<\/strong> is embarking on an aggressive expansion, planning to invest <strong>$36 billion<\/strong> every 18 months. This significant capital deployment underscores the company&#39;s growth ambitions.<\/p>\n<p>From the European Central Bank (ECB), Governing Council member Olaf Sleijpen commented that &quot;policy is in a good place&quot; and that the economy &quot;has been more resilient than thought.&quot; However, Sleijpen cautioned about &quot;a lot of risks &amp; uncertainty out there&quot; and noted that a &quot;good place&quot; for policy &quot;doesn\u2019t mean it will stay put,&quot; indicating potential for future adjustments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways President Trump indicated that a 100% tariff on China is &quot;not sustainable&quot;, suggesting a potential easing of trade 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