TRADE WAR ON HOLD! US and China agree to CUT tariffs
GREEN LIGHT for a MASSIVE crypto rally?
US stock futures saw a strong increase early Monday following the announcement of an agreement between the United States and China to temporarily cut tariffs after negotiations over the weekend in Switzerland.
Temporary Tariff Cut: US Treasury Secretary Scott Bessent reported that talks with China were "very productive" and that both countries agreed to a "reciprocal" reduction of tariffs by 115% for 90 days.
This implies a reduction of US tariffs on Chinese products to 30% and Chinese tariffs on US imports to 10%.
Upcoming Negotiations: Bessent anticipates meeting again with representatives from Beijing in the coming weeks to work on a broader agreement.
