#TradeWarEases
The ongoing trade war between the US and China has seen a significant development, with both countries agreeing to reduce tariffs on each other's goods for 90 days. This move aims to ease tensions and promote trade between the two nations.
*Key Details:*
- *US Tariff Reduction*: The US will reduce tariffs on Chinese goods from 145% to 30%.
- *China's Tariff Reduction*: China will reduce tariffs on US goods from 125% to 10%.
- *Duration*: The tariff reductions will be in effect for 90 days.
- *Impact*: This move is expected to boost trade and economic cooperation between the two countries.
*Market Reaction:*
- *S&P 500 Futures*: Rose by 1.1-1.4% following the announcement.
- *Nasdaq Futures*: Increased by 1.4-1.9%, reflecting investor optimism.
*Expert Insights:*
- *US Treasury Secretary*: The agreement signals a willingness from both sides to avoid economic fragmentation and improve relations.
- *Fitch Ratings*: The trade war has affected emerging market growth, but a weaker dollar has eased some risks ¹ ².#TradeWarEases
