US and China agree on trade truce with tariff cuts
pre-market1 source ↓written by the desknot a recommendation
- announced
- 1 Nov 2023
- tariff rate
- 47%
The US and China have reached a one-year trade truce following negotiations between Presidents Trump and Xi. The deal, announced on 1 Nov 2023, includes a halving of tariffs on Chinese goods from 20% to 10%, reducing the overall US tariff rate to 47%. In return, China will pause export controls on rare earths and other critical minerals.
This agreement may stabilize market sentiment and enhance trade relations between the two largest economies, impacting sectors reliant on these materials.
Not investment advice. For informational purposes only.