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The recent deal between the United States and China to pause trade hostilities for 90 days will likely spur renewed activity throughout China's mammoth manufacturing sector, with repercussions for the country's energy needs.
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.
China’s big appetite for the small, green “happy nuts” drives nearly a third of the $3 billion U.S. crop, centered in California.
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.
A day after China and the U.S. agreed to a 90-day truce in their tariffs stalemate, China is moving to strengthen its alliances as a counterweight to President Donald Trump's trade war.
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.
CBIZ has launched a new tariff solution service aimed at helping businesses navigate the complexities of changing trade rules, particularly in light of ongoing US-China trade tensions.
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.