United States and China have reached a temporary reduction agreement of tariffs that they had mutually imposed on imports, after a round of negotiations held this past weekend in Geneva (Switzerland). Thus, according to Reuters, During the next 90 days the United States It will reduce tariffs that he had imposed on China imports and that they entered into force on April 2, 145%, 30%. Assimimism, China will reduce the tariffs with which they had responded to US imports from 125% to 10% During the same period of time.
Upon knowing the news, the dollar has uploaded its quote with respect to other currencies, and the bags have begun to rise, starting the recovery of the lost terrain after Trump climb his commercial war with China imposing tariffs on the importation of their products.
He US Treasury Secretary, Scott Besenthas stated after the negotiations in which the agreement has been achieved that «Both countries represented their interests very well. Both parties have interests in a balanced trade, and the United States will continue to advance in that direction. The consensus between both delegations this weekend is that no part wants to disconnect. And what had happened with these tariffs so high was the equivalent of an embargo, and none of the parties wants. We want trade«.
According to Besent, the agreement does not include specific tariffs for specific sectors. In addition, he has recognized that the United States will continue with its rebalancing in certain areas, including medications, semiconductors and steel. In these areas, he added, they have identified vulnerabilities in the supply chain.
As we have mentioned, the bags are in full climb after the news is known. Especially, technology -related values, such as Apple, Amazon, Tesla, Nvidia, AMD or goal. Also the main electronic commerce platforms of Chia, such as Temu and Alibaba, have seen their Price at Nasdaq. In Europe, one of the values that is growing in the stock market is Maersk, a transport company that last week said that the volume of containers sent between the two countries had fallen abruptly by the commercial war.
The tariffs had practically bilateral trade between the two countries, causing problems in supplies and fear of stanflation in the United States. The situation had also begun to cause dismissals.
For now, details about other tariffs imposed on China by the US are unknown, as well as if China will lift the restrictions imposed on the United States of different materials, known as rare earths. What both parties have expressed is that During the 90 days that this temporary reduction of tariffs will continue with the negotiations To redirect the situation.
