๐บ๐ธ *BREAKING: U.S. Imposes 55% Tariff on Chinese Goods; China to Reduce Tariffs to 10% Following Geneva Deal* ๐จ๐ณ
In a significant development, President Donald Trump announced that the United States will implement a combined 55% tariff on Chinese imports. This includes a new 30% tariff in addition to the existing 25% levies. The move aims to address trade imbalances and secure critical supply chains, particularly in rare earth minerals essential for U.S. industries.
As part of the agreement, China is expected to lower its tariffs on U.S. goods to 10%, fostering a more balanced trade relationship. The deal also encompasses China's commitment to resume exports of rare earth materials to the U.S., which are vital for sectors like automotive and technology.
This trade agreement follows negotiations in Geneva and is seen as a step toward stabilizing economic ties between the two nations. While the deal is pending final approval from Chinese President Xi , it marks a de-escalation in the ongoing trade tensions.
Market reactions have been cautiously optimistic, with investors monitoring the situation closely. The agreement's impact on global supply chains and economic growth will be assessed in the coming weeks.
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