President Trump just announced that the U.S. and China have reached a one-year trade deal centered on rare earths and critical minerals.
In exchange, the U.S. is cutting tariffs on China and that looming 100% tariff? It’s officially off the table.The fentanyl tariff is being lowered from 20% to 10%, effective immediately, and the overall tariff rate on Chinese imports is dropping from 57% to 47%. Trump said the agreement will be “negotiated every year,” hinting at a rolling framework rather than a final peace deal.He also confirmed that China will “discuss” chip restrictions with Nvidia, that there will be “no more obstacles on rare earths,” and that both countries will “collaborate on Ukraine.”Trump called his meeting with President Xi “amazing,” noting that Xi will visit the U.S. soon while he plans to return to China in April.For now, this round of the U.S.-China trade war seems to be over but let’s be honest, by next year we’ll probably be talking about another round of tariffs and right back where we started.Source: StockMarket.News
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