The United States will reduce roles in Chinese imports by 30% from 145%, and China – up to 10% from 125%. The associated conditions will be valid within 90 days.
The global financial market went up after the United States and China announced a significant decrease in tariffs on one another by 90 days. The Financial Times reported this on Monday, May 12.
This is an important step towards reducing the tension in the long -term trade war between the two giant economics.
According to new agreements, US duties for Chinese goods will decrease from 145% to 30%, and Chinese – in American imports from 125% to 10%.
Against the news background, futures in the S&P 500 and Nasdaq grew by 2.5% and 3.4%, respectively. The American dollar was boosted by the 1.1% relative in the basket of major currencies, while the Chinese Yuan (Renminby) rose 0.5%.
The yield of the 10-year Bond of the US government increased by 4.44%.
Investors are redistributed by capital: gold is 2.8%, and Brent oil futures increased by 2.8% to $ 65.71 per barrel.
Some companies, depending on the international trade, have shown a particularly high increase. In particular, the Maersk Shipping Company’s shares have removed more than 11%.
Note that after negotiations in Switzerland, the United States of America announced a trade agreement with China.
Remember that after consumption of a truce between India and Pakistan, US president Donald Trump has promised to increase trade in both countries and help them find a decision in the controversial region of Kashmir.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.