U.S. Tariff Rollback Markedly Reduces Uncertainty -- Market Talk

Dow Jones05-12

1155 GMT - The U.S. and China have undertaken a huge rollback in bilateral tariffs. Alongside last week's agreement with the U.K., this gives a good indication of the likely cap and floor of tariffs, Deutsche Bank's George Saravelos says in a note. The U.K. has one of the least imbalanced relationships with the U.S. and now has a tariff rate of 10%, while at the other end of the scale, China's tariff rate is 30%. "It is reasonable that these two numbers now set the bounds of where American tariffs will end up this year, a material increase in visibility from just last week," Saravelos says. The more conciliatory turn means the peak of trade-war uncertainty is over, helping improve the global growth outlook, he says. (edward.frankl@wsj.com)

(END) Dow Jones Newswires

May 12, 2025 07:55 ET (11:55 GMT)

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The U.K. has one of the least imbalanced relationships with the U.S. and now has a tariff rate of 10%, while at the other end of the scale, China's tariff rate is 30%. \"It is reasonable that these two numbers now set the bounds of where American tariffs will end up this year, a material increase in visibility from just last week,\" Saravelos says. The more conciliatory turn means the peak of trade-war uncertainty is over, helping improve the global growth outlook, he says. 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