#TrumpTariffs On Monday, an executive order from the White House drastically reduced the "de minimis" tariff on shipments from China from 120% to 54%, with a fixed fee of $100 starting May 14. This measure marked the latest step in a broad easing of trade tensions between the United States and China, after both powers suspended most tariffs for 90 days and generated euphoria in the markets.

Following weekend talks, both countries committed to reducing their broad and growing tariffs. U.S. tariffs fell from 145% to 30%, while China's tariffs decreased from 125% to 10%, according to a joint statement.

"The consensus of both delegations this weekend is that neither party wants a decoupling," said U.S. Treasury Secretary Scott Bessent on Monday. "And what happened with these very high tariffs... amounted to an embargo, and neither party wants that. We want trade."

Also on Tuesday, it was reported that China lifted its ban on deliveries of Boeing aircraft (BA).

President Donald Trump's visit to the Middle East has opened the door for Saudi Arabia and the United Arab Emirates to advance their ambitions in artificial intelligence, with major tech companies like Nvidia (NVDA) and Advanced Micro Devices (AMD) poised to supply advanced chips.

Despite these agreements, Foxconn (HNHAF, 2317.TW), the world's largest contract electronics manufacturer, lowered its full-year outlook on Wednesday due to tariff uncertainty. President Young Lin stated that tariffs will bring more challenges for Foxconn and announced a more cautious outlook.