China, Xi and Trump
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Trump strikes a deal with EU on tariffs
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The Stockholm meeting — following similar talks in Geneva and London in recent months — is set to extend a 90-day pause on those tariffs. During the pause, U.S. tariffs were lowered to 30% on Chinese goods, and China set a 10% tariff on U.S. products.
The president is set to raise taxes on imports arriving from many countries, including Canada and Mexico. That’s on top of the tariffs that the White House has already announced on specific products,
5don MSN
The Trump administration’s trade deal with China that sharply lowered the tariff rate on Chinese imports is expected to be extended past its Aug. 12 deadline, Treasury Secretary Scott Bessent predicted Tuesday, though he maintained higher tariff rates on other countries’ imports are still slated to take effect Aug. 1 as scheduled.
The United States and China have extended their tariff truce by another 90 days as trade negotiations continue in Stockholm, with both nations committing to not impose additional tariffs or escalate the trade war.
Officials are meeting in Sweden for their third round of talks in as many months, ahead of an Aug. 12 deadline, to try to avoid a flare-up in trade tensions.
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The head of Eurasia Group’s China sees signs the two countries are trying to patch things up to facilitate a meeting between President Donald Trump and China’s Xi Jinping.
The GBP/USD pair posts modest gains near 1.3440 during the Asian trading hours on Monday. The latest optimism fueled by a trade deal between the United States and the European Union triggers a fresh wave of the global risk-on sentiment, which boosts the Pound Sterling.