0759 GMT - The magnitude of U.S.-China tariff reductions is larger than expected, according to Tai Hui, APAC chief market strategist at J.P. Morgan Asset Management in a commentary. "This reflects both sides recognizing the economic reality that tariffs will hit global growth and negotiation is a better option going forward," Tai says. The 90-day period may not be sufficient for the two sides to reach a detailed agreement, but it keeps the pressure on the negotiation process, he says. The immediate market reaction has been positive and Tai expects market to get back to a "risk-on sentiment" in the near term. Pressure on the U.S. Fed to cut rates may also ease for the time being, he says. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
May 12, 2025 03:59 ET (07:59 GMT)
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