US strikes trade deal with China
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Online shoppers in the U.S. will see a price break on their purchases valued at less than $800 and shipped from China after the Trump administration reached a truce with Beijing over sky-high tariffs.
A 90-day pause on punishing tariffs could restart trade between the world’s largest economies. But it is not enough to resolve uncertainty about the economy.
Ninety days isn’t much time to reach a trade deal, especially one between two adversaries with as many disagreements as the U.S. and China. But Chinese Vice Premier He Lifeng acknowledged
A White House executive order said on Monday that the U.S. would cut the "de minimis" tariff on China shipments to 54% from 120%, with a flat fee of $100 to remain starting from May 14.
U.S. and Chinese officials said they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war for more talks on resolving their trade disputes.
Analysts welcomed the de-escalation agreed in Geneva, but told Newsweek that many questions remain unanswered.
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.
The U.S.-China tariff deal sent the tech-heavy Nasdaq soaring, entering a bull market, and economists are optimistic that the U.S. may dodge a recession.
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