US and China reach agreement to slash tariffs by 115%
The news that the US and China will roll back the majority of the swingeing tariffs imposed on each other, at least temporarily, has given stock markets a boost and seen the value of safe haven assets like gold fall.
The benchmark S&P 500 share index in the US is now above the level it was the day before Donald Trump rocked the world financial system with a universal tariff of 10% and very steep so-called reciprocal tariffs on high exporting countries in Asia.
The 90-day pause that was announced very quickly after markets - including the safe harbour of US government bonds - plunged saw markets recover just over half their losses.
Those losses in US shares have now been fully reversed.
By
steve from amherst ·
Birdie Boy Newest Member ·