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Content of the US-China Trade Agreement....
Key Customs Duty Reductions:
As a significant step, the US has agreed to reduce tariffs on Chinese goods from 145% to 30% over the next 90 days. In return, China will reduce tariffs on US goods from 125% to just 10%. (Source: Financial Times)
2. New Economic Dialogue Platform:
Both countries will establish a new economic dialogue mechanism to promote long-term cooperation and address fundamental structural issues in trade relations. (Source: Reuters)
3. Positive Market Reaction:
Global financial markets reacted positively to this news. S&P 500 earnings increased by 2.8%, the US dollar strengthened by 0.7%, and gold prices decreased by 2.3%. (Source: Financial Times)
