Big Moves in the US-China Trade Game
1. Tariff Takedown:
The U.S. is dialing back tariffs on Chinese goods — from a whopping 145% down to 30% over the next 90 days. In return, China’s cutting its tariffs on U.S. goods from 125% to just 10%. Major de-escalation vibes. (Source: Financial Times)
2. Talk It Out:
A fresh economic dialogue platform is in the works. Both countries are setting up a new channel to actually talk about long-term fixes and smooth out the structural wrinkles in their trade relationship. (Source: Reuters)
3. Markets Are Loving It:
Wall Street and beyond are cheering. S&P 500 futures popped up 2.8%, the U.S. dollar got a 0.7% boost, and gold — the usual safe haven — dipped by 2.3%. (Source: Financial Times)
4. Quick Recap:
Earlier this year, things got spicy: the U.S. slapped 145% tariffs on Chinese imports, and China hit back with 125% on U.S. goods. This new deal? It’s a major step toward cooling things down.
