Relaxation in the trade dispute of the largest economies in the world: The USA and China want to suspend part of their mutually imposed tariffs for 90 days. The stock exchanges react relieved.
China and the United States have decided to reduce their mutual tariffs in the ongoing trade dispute. As can be seen from a joint explanation, the regulation temporarily applies to 90 days. Previously, delegations of both sides in Geneva in Switzerland had met. US President Donald Trump praised the beginning of the talks as a “complete restart”.
According to the explanation, US tariffs fall to Chinese imports to 30 percent. Before that, these were 145 percent. Beijing’s surcharges against imports from the United States decrease from 125 percent to 10 percent.
Plan China and the USA “Consulting mechanism”
According to Chinese information, both sides agreed to set up a mechanism for advice on business and trade, as Vice Prime Minister He Lifeng said, according to Chinese state media.
The meeting in Geneva was an important step to solve the disagreements through dialogue and laid the basis for deepening the collaboration. Among other things, US Finance Minister Scott Bessent and US trade officer Jamieson Greer took part in the talks.
Trade was practically no longer possible
The two largest economies in the world are arguing with China and the USA. Among the previously previously duties, trading between the two countries was no longer possible, which had also affected the global economy.
The markets reacted relieved. The share price of the Danish shipping giant Maersk initially increased by around 10 percent in early trade.
