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The US and China reached a 90-day trade truce. Now begins the race to import stuff.
Trade experts anticipate a spike in trade during talks and a substantial deal, but the risk of inflation and economic slowdown may not be over.
US-China deal to slash tariffs also eases burden on cheap packages
Online shoppers in the U.S. will see a price break on their purchases valued at less than $800 and shipped from China after the Trump administration reached a truce with Beijing over sky-high tariffs.
US soybean exports may fall 20% without China trade deal, AgResource says
U.S. soybean exports may drop 20% and the prices paid to farmers will plunge if the United States and China fail to resolve their trade dispute limiting U.S. soybeans from their largest market, agribusiness consultants AgResource said on Wednesday.
China Issues Update on Trade Deal With US
China hailed a trade agreement with the U.S. that will see both sides sharply reduce their tariffs for 90 days, calling it an "important step" that could lead to "deepening cooperation" between the world's two largest economies.
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What's in the US-China trade framework?
The U.S. agreed to cut tariffs on Chinese goods from 145% to 30%, while China committed to reduce tariffs on U.S. products from 125% to 10%. The lowered tariffs will remain in place for 90 days while the two sides negotiate a wider trade deal.
China criticises UK trade deal with US, FT reports
China has criticised a trade deal between the United Kingdom and the United States that could be used to squeeze Chinese products out of British supply chains, the Financial Times reported on Tuesday.
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Faisal Islam: US and China deal is significant, but not an end to the trade war
The US pushed back strongly against the idea of countries retaliating against their tariffs. China did the most and currently has the same baseline 10% tariff as the rest of the world. So the US now has the problem. Why would any ally who did not retaliate expect to get worse than China, who did?
Trump officials say trade deal reached with China but details remain unclear
The White House announced a "China trade deal" in a May 11 statement, but did not disclose details. The apparent agreement came together sooner than most observers expected after Trump's 145% tariffs on Chinese imports virtually halted $600 billion in annual trade between the world's two largest economies.
Hedge funds gain little from rally sparked by US-China trade deal
Global hedge funds reaped limited gains from a big Wall Street stock rally triggered by a U.S.-China agreement on tariffs on Monday, a Morgan Stanley note on Tuesday showed.
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