#TradeWarEases US and china finally reached to an agreement that they will reduce tariffs for the next 90 days as per today 👍
As the deal is that US tariffs on Chinese goods will drop from 145% to 30%
And on the other hand china will decrease duties on US from 125% to 10%. Can this thing affect crypto market?
This agreement reached during trade talks in Geneva. It is to be stated that both sides cancelled 91% of tariffs and suspend another 24% for the truce period.
This agreement is being followed trade deal signed on January 15, 2020, where China committed to purchase $200 billion of U.S. goods and services for the next two years. But, China failed to meet this target, even less than it had before the trade war .
While the current agreement shows hope for improved trade relations, it may be a temporary truce. Both nations have expressed a mutual desire to avoid economic decoupling. The coming months could be hard in determining whether this pause leads to a more comprehensive and lasting resolution