China and the United States today for 90 days most of the additional customs duties imposed on each other, a truce in their trade wars, which has caused turbulence on procurement chains and markets around the world. A few hours before this partial lifting of customs duties, US President Donald Trump told reporters that he was seeing a “very solid” deal with the Asian giant. This reduction in the additional duties was theoretically implemented today at 07:01 (Greek time). On Monday, following negotiations during the weekend in Geneva, Switzerland, Chinese and Americans had announced a suspension of most of their punitive customs duties. It was a result that significantly exceeded expectations and caused cautious optimism in stock markets. Under this agreement, the US agreed to reduce their additional customs duties to Chinese products to 30%, while China will reduce their […]
Source: News Beast
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