The US and China have agreed to withdraw their previously announced tariffs for 90 days, with China imposing 10% tariffs on US goods and the US taxing Chinese goods at about 30%. The agreement was reached after recognizing the importance of their bilateral economic and trade relationship. Vice Premier He Lifeng from China will lead discussions alongside Secretary of the Treasury Scott Bessent and United States Trade Representative Jamieson Greer, who will alternate conducting talks in China, the US, or a third country. This comes after President Trump initially imposed tariffs on dozens of countries with a trade deficit, including India, before pausing them for 90 days following international talks.
https://www.ndtv.com/world-news/relationship-with-china-is-now-very-good-donald-trump-after-geneva-trade-talks-8398382The US and China have made larger-than-expected tariff cuts, bringing relief to global financial markets. The announcement was made by both countries, marking a truce in the ongoing trade war.
https://www.smh.com.au/business/the-economy/don-t-break-out-the-champagne-the-trade-war-truce-is-just-a-reprieve-20250513-p5lyoa.htmlThe US and China have agreed on a 90-day cease-fire in any tariff escalation, leading to a powerful stock rally as global markets surged after the announcement of scaled-back tariffs for the next three months.
https://www.ibtimes.sg/global-markets-soar-u-s-china-tariff-truce-sparks-economic-optimism-79890The US and China reached a deal to reduce tariffs on each other's imports, with the US cutting its tariffs on Chinese goods from 145% to 30%, while China reduced its tariffs on US imports from 125% to 10%. The agreement provided relief to markets, but analysts like Christopher Hodge expressed concerns that remaining tariffs could harm the global economy. Despite an initial surge in the US dollar against major currencies, it lost some value by Tuesday morning. Fitch estimated the US effective tariff rate at 13.1%, a decline from 22.8% prior to the agreement, but still higher than pre-2024 levels and post-2024 rates.
https://channelnewsasia.com/business/asia-markets-us-china-trade-war-truce-5125641The US and China agreed to reduce tariffs on each other's imports, with the US cutting its tariffs on Chinese goods from 145% to 30%, while China reduced its tariffs on US imports from 125% to 10%. The agreement provided relief to markets but raised concerns about the impact on global trade. Analysts like Christopher Hodge and Matt Simpson expressed skepticism about the long-term effects, with Fitch estimating a US effective tariff rate of 13.1%. The deal led to a surge in the US dollar against other currencies, but it was slightly weaker by Tuesday morning. Investors now focus on the details of the agreement and upcoming inflation data, which could influence Federal Reserve policy and interest rates.
https://www.brecorder.com/news/40362414/asian-markets-cheer-as-pause-in-us-china-trade-war-boosts-risk-appetiteUS and China agreed to temporarily slash tariffs on imports from 145% to 30% for a 90-day period, with China cutting duties from 125% to 10%. This deal led to a significant rally in global shares, with the S&P 500 index jumping 3.3% and the Nasdaq Composite advancing 4.4%. The dollar strengthened against other major currencies, while gold prices fell 2.7% as investors took on more risk.
https://channelnewsasia.com/business/stocks-dollar-surge-us-and-china-agree-90-day-tariff-relief-5125161The US and China have agreed on a joint statement reducing tariffs on Chinese products to 30% for 90 days, with Beijing lowering its levies on most goods to 10%. This move exceeded expectations in China, causing the dollar and stocks to surge, providing relief for President Trump amid rising inflation concerns at home.
https://www.japantimes.co.jp/business/2025/05/13/economy/xi-trump-us-china-trade-analysis/The US and China have agreed to slash tariffs as part of a trade deal, surpassing analysts' expectations. The agreement does not exempt cheap e-commerce goods from China and Hong Kong, which were previously halted by the Trump administration. Vice Premier He Lifeng will lead Chinese negotiations, while US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will represent the US at the White House.
https://en.tempo.co/read/2006622/us-china-trade-tensions-ease-as-both-sides-agree-to-cut-tariffsUS Trade Representative Jamieson Greer announced China's agreement to lift export countermeasures, including restrictions on rare earth minerals and magnets, in exchange for tariff reductions. The news boosted financial markets, with the S&P 500 closing at its highest level since March 3 and the Nasdaq Composite recording its highest close since February 28. US President Trump hailed the deal as a success, saying it would be "fantastic" for China, the US, and unification and peace. However, experts like Scott Kennedy warn that addressing deep trade imbalances will take years to reset Washington's relationship with Beijing.
https://channelnewsasia.com/world/us-china-pause-tariff-war-uncertainty-global-stocks-5125526