#TradeWarEases ChatGPT

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#TradeWarEases

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The U.S. and China have agreed to a significant 90-day reduction in tariffs, marking a pivotal de-escalation in their ongoing trade war. This temporary truce, announced following productive talks in Geneva, has led to a substantial rally in global markets.Yahoo Finance+9Indiatimes+9The Guardian+9Deccan Herald+6The Guardian+6The Times of India+6

Key Details of the Agreement

Tariff Reductions: The U.S. will lower tariffs on Chinese goods from 145% to 30%, while China will reduce its tariffs on U.S. imports from 125% to 10%. Notably, a separate 20% U.S. tariff related to the fentanyl crisis remains in place. Indiatimes+4The Guardian+4markets.businessinsider.com+4

Market Reactions: The announcement spurred significant gains across major stock indices. The Dow Jones Industrial Average surged over 1,000 points (2.5%), the S&P 500 rose by 2.6%, and the Nasdaq increased by 4%. markets.businessinsider.com+2New York Post+2The Times of India+2

Commodity and Currency Movements: Brent crude oil prices climbed above $65 per barrel, while gold prices fell by 2.5%, reflecting decreased demand for safe-haven assets. The U.S. dollar also strengthened, reaching a one-month high.