China and the USA lower mutual tariffs
China and the United States have decided to reduce their mutual tariffs in the ongoing trade dispute. As can be seen from a joint explanation, the regulation temporarily applies to 90 days.
Accordingly, the US tariffs fall to Chinese imports to 30 percent. Before that, these were 145 percent. Beijing’s surcharges against imports from the United States decrease from 125 percent to ten percent.
Talks in Geneva
Previously, delegations of both sides in Geneva in Switzerland had met. Both the United States and China subsequently signaled progress in the negotiations, but without giving any further details.
According to Chinese information, both sides agreed to set up a mechanism for advice on business and trade, as Vice Prime Minister He Lifeng said, according to Chinese state media. The meeting in Geneva was an important step to solve the disagreements through dialogue and laid the basis for deepening the collaboration.
Trump and China: What strategy is behind the trade war?
Dax climbs towards 24,000 points
Customs cuts between the USA and China sent the DAX to new record heights at the beginning of the week. Shortly after the start of the stock market, the German leading index jumped up 1.54 percent to 23,861.01 points after he had skipped the 23,500 points mark for the first time on Friday.
The EuroStoxx 50 meanwhile notes a little under its record, which was also set up in March. For the leading index of the euro zone this morning, 1.49 percent went up to 5,393.19 points. The MDAX, the index of medium -sized companies in Germany, rose by 1.10 percent to 30,056.18 points. Until his record high from 2021, it is still a good distance because it is over 36,000 points.
The upcoming negotiations between Russia and Ukraine about a possibly permanent peace would also be seen positively, as well as the ceasefire between India and Pakistan on the Asian stock exchanges, said portfolio manager Thomas Altmann from QC Partners.
At the beginning of April, the German stock market barometer was sagged to just under 18,490 points, After US President Donald Trump announced massive customs packages and China had reacted with countermeasures. Since then, the leading index has again increased by around 29 percent in a strong recreational movement. Since the beginning of the year, it has been up almost 20 percent.
Trump’s first trading pact: USA and British agree
USA also speak of agreement
According to US information, the two sides had agreed in the customs dispute – and thus achieved a possible breakthrough in the stuck trade conflict. Among other things, US Finance Minister Scott Bessent and US trade officer Jamieson Greer took part in the talks.
The two largest economies in the world are arguing with China and the USA. Among the previously previously duties, trading between the two countries was no longer possible, which had also affected the global economy.
