Trump backs down in China trade war
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Both nations pledged to cut their broad, ballooning tariffs after weekend talks. US tariffs dropped to 30% from 145%, while China’s moved to 10% from 125%, per a joint statement
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President Donald Trump is waging a trade war without getting approval from Congress: He declared a national emergency to slap import taxes — tariffs — on almost every country on earth.
Prime Minister Mark Carney's cabinet reshuffle includes changes to the core team overseeing the currently fraught US-Canada relationship.
Tamer-than-expected inflation and a significant de-escalation of a U.S.-China trade war are easing fears of a sharp squeeze on American households and businesses in coming months, prompting Wall Street firms to pare predictions of a recession and giving the Federal Reserve room to leave interest rates where they are.
The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.
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As in negotiations with foreign nations, minor concessions by drug companies are more likely than a true overhaul.
Brazil signed protocols with China on Tuesday to allow exports of an ethanol by-product used in animal feed, challenging U.S. dominance in the market amid the ongoing China-U.S. trade standoff.
The U.S.-China 90-day delay is likely the peak trade war de-escalation, tariffs can only increase from here as the reciprocal tariffs are negotiated and added to the tariffs-in-place. The worst case has been avoided for now,
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Asian shares advanced Tuesday after China and the United States announced a 90-day truce in their trade war, but the gains were tempered by uncertainties over the longer term, as analysts warned President Donald Trump’s policies could still quickly change.
President Donald Trump's trade war truce with China still leaves a hefty 30% tariff in place, at least for the time being, but the deal improves the outlook for the economy.
Nvidia was set to rejoin the $3 trillion club Tuesday for the first time since February. The stock gained 5.4% Monday, putting its market capitalization nose hairs behind $3 trillion — the AI chipmaker's value was $2.