China, Trump and tariff
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China on Monday accused the US of undermining the two countries’ preliminary trade agreement after the US issued an industry warning against using Chinese chips that singled out Huawei, per CNBC.
The U.S. and China issued a joint statement on Monday announcing an agreement to cut reciprocal tariffs for 90 days.
The wheels of commerce are turning again for some Arkansas businesses that paused trade with China due to tariffs.
The United States and China said on Monday they have agreed on a deal to slash reciprocal tariffs as Washington and Beijing seek to end a trade war that has disrupted the global economy and set
Treasury Secretary Scott Bessent said the US and China had agreed a 90-day pause and to "substantially" reduce tariff levels following talks in Geneva.
Contrary to what the buoyant stock market might be indicating, this combination of trade policy uncertainty and unusually high import tariff levels does not bode well for the US economy.
The temporary peace, signals not an end to hostilities but a new phase defined by careful maneuvering and a "competitive coexistence."
The United States and China announced that tariffs against one another will be reduced for an initial 90-day period following trade talks in Switzerland.
The Dow Jones Industrial Average closed up 1,160 points, or 2.8%, while the S &P 500 jumped 3.2%. The tech-heavy Nasdaq increased 4.3%. Facebook parent Meta and Amazon each climbed about 8%. Starbucks increased more than 6%.
Wall Street opened higher on Monday after the US agreed to cut tariffs on Chinese goods to 30%, with China reducing its levies to 10%.
China’s defiant stance in negotiating a tariff truce with the US has convinced some countries they need to take a tougher position in their own trade talks with the Trump administration.