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Dan Wang, the China director at political risk consultancy Eurasia Group, reportedly said the talks are a positive sign, although they do not indicate a breakthrough in the ongoing trade negotiations.
The sharp drop came after U.S. importers began delaying or canceling shipments coming from China as Donald Trump’s 145% tariffs on Chinese goods came into effect.
Three low-cost ETFs provide different types of exposure to Chinese equities and may be poised for success depending upon how the ongoing trade war develops.
China is viewed as more favorable than the United States by residents of other countries around the world for the first time since survey tracking began in 2020.
Britain was the first country to clinch an agreement with the U.S., resulting in the removal of the tariffs imposed on steel and auto even as the baseline 10% tariff stayed.
Summers said China didn't make any consequential or significant change in its policies and that it was the U.S. that made a retreat from its extreme tariff policy.
This would mean the combined 145% tariffs on Chinese imports will be reduced to 10% by May 14, while the 20% duties related to fentanyl will stay in place.
China’s spokesperson said if the U.S. wants to talk, it has to show sincerity and be prepared to correct its wrong practices and cancel the unilateral tariffs.
Markets grabbed a tactical lifeline last week as the White House pulled back from the brink. The market’s stopped panicking, but it hasn’t started trusting.
JPMorgan's equity strategy: China trade deal, tax cuts, and deregulation may ease tariff concerns, but caution still advised for investors. Buy SPY, QQQ, USMV for upside potential.
