$ETH Short-term financial market: Positive signals from US-China tensions

In the context of what seemed like a resurgence of US-China trade tensions, the global financial market unexpectedly received positive signals.

President Trump has reaffirmed his hardline stance: he will not reduce taxes on Chinese goods without receiving 'beneficial concessions for America'. However, it is noteworthy that China is taking a softer approach. According to Reuters, Beijing is exempting certain imported goods from the US from the staggering 125% tariffs, a move believed to be aimed at alleviating pressure from the domestic business community.

The Chinese Ministry of Commerce has even established a special task force to compile a list of goods that may be exempt from tariffs and to encourage domestic companies to proactively propose additional items – indicating an increasingly evident flexibility in trade policy.