U.S. and China agree to slash reciprocal tariffs in major step toward easing trade war
The world’s two biggest economies agreed to a 90-day pause on most of their levies after a first round of trade talks in Switzerland over the weekend.
U.S. tariffs on Chinese imports will be cut to 30% from 145%, while China’s levies on U.S. imports will be cut to 10% from 125%, the two countries said in a joint statement.
The announcement sent U.S. stocks leaping in pre-market trading. The Dow Jones Industrial Average was up 2.1%, while the S&P 500 index was up 2.8% and the tech-heavy Nasdaq index was up 3.8%.
apple.news
The world’s two biggest economies agreed to a 90-day pause on most of their levies after a first round of trade talks in Switzerland over the weekend.
U.S. tariffs on Chinese imports will be cut to 30% from 145%, while China’s levies on U.S. imports will be cut to 10% from 125%, the two countries said in a joint statement.
The announcement sent U.S. stocks leaping in pre-market trading. The Dow Jones Industrial Average was up 2.1%, while the S&P 500 index was up 2.8% and the tech-heavy Nasdaq index was up 3.8%.
U.S. and China agree to slash reciprocal tariffs in major step toward easing trade war — NBC News
The world’s two biggest economies agreed to a 90-day pause on most of their levies after a first round of trade talks in Switzerland over the weekend.
apple.news
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