Shortly after 08:00, the first reports emerged regarding a potential temporary agreement between China and the U.S. to reduce trade restrictions. Details of the agreement from the U.S. side are now becoming available:
- China will lower tariffs on American goods from 125% to 10% for a 90-day period
- U.S. tariffs on Chinese goods will be set at 30%: a 10% base rate plus 20% tied to fentanyl-related concerns
- The tariff reductions are set to take effect on May 14
- Both sides will conduct working-level consultations on trade and economic matters
- Negotiations will continue with the aim of establishing a long-term trade agreement in the future
US100 (H1 timeframe)
In response to successful weekend negotiations, futures on U.S. stock indices are recording significant gains. US2000 is posting the largest increase at 4.00%, US100 is up 3.50%, and US500 is trading 2.60% higher.
Source: xStation5
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