#TradeWarEases
The United States and China have agreed to a 90-day suspension of most tariffs. The U.S. will reduce tariffs on Chinese imports from 145% to 30%, while China will reduce tariffs on U.S. imports from 125% to 10%. The agreement was announced after negotiations in Geneva, where both sides emphasized the importance of long-term and sustainable trade relations.
This change had an immediate impact on the markets – the value of the U.S. dollar and the Chinese yuan increased, while gold prices fell by 3% to $3,223.57 per ounce.
Overall, this seems like a positive step towards more stable trade relations between the two largest economies in the world.