#TradeWarEases

The global trade landscape is experiencing a notable shift as major economies move to ease longstanding trade tensions.

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🇺🇸🇨🇳 U.S.–China Tariff Reduction Agreement

In a significant development, the United States and China have agreed to a 90-day reduction in tariffs, aiming to de-escalate their prolonged trade war. Effective May 14, U.S. tariffs on Chinese goods will decrease from 145% to 30%, while China's tariffs on U.S. goods will drop from 125% to 10%. This agreement follows high-level negotiations in Geneva and is intended to alleviate economic pressures and foster further dialogue between the two nations.

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🇺🇸🇬🇧 U.S.–U.K. Trade Deal Finalized

Simultaneously, the United States and the United Kingdom have finalized a trade agreement that reduces tariffs on several key industries. The U.S. will lower tariffs on British cars from 27.5% to 10% and eliminate tariffs on British steel and aluminum. In return, the U.K. will remove its 19% tariff on American ethanol and increase import quotas for U.S. beef. While the deal is seen as a positive step, some sectors, such as the U.K.'s bioethanol industry, express concerns over potential negative impacts.