After over a year of tit-for-tat, the US and China could slash sky-high tariffs
The US and China are preparing to cut tariffs on billions of dollars worth of goods after a year of trade tensions. Both countries have agreed to discuss a framework for reciprocal tariff reductions following a recent summit between President Trump and President Xi Jinping. Analysts suggest that while this is a positive development, the impact on economic growth may be limited.
- ▪The US and China are ready to cut tariffs affecting tens of billions of dollars in goods.
- ▪A trade council has been established to facilitate discussions on tariff reductions.
- ▪China plans to restore registrations for some US beef exporters and purchase 200 aircraft from Boeing.
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