Market Chatter: China to Roll back Non-tariff Barriers, Trump Says

MT Newswires Live05-13

US President Donald Trump said Beijing agreed to remove non-tariff barriers on American goods, marking a de-escalation of the trade war between China and the US, Bloomberg News reported Monday.

Following talks in Geneva, both nations will reduce tariffs, with US rates dropping to 30% from 145%, and China tariffs to 10% from 125%, according to the report.

Trump said more progress could follow and hinted at speaking with Chinese President Xi Jinping soon, Bloomberg wrote. However, Trump warned that tariffs could rise again if no deal is reached within 90 days.

Specific details on China's concessions remain unclear, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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