Donald Trump decides to China It sparked a stock market rally around the world.
On Monday night, the U.S. President signed executive order Extend deadline for higher tariffs on China Until November 10th. Beijing said earlier on Tuesday that it would suspend additional tariffs on U.S. goods within 90 days.
In response, markets in Japan and Australia hit record Tuesday as the U.S. and China are expected to obtain a trade agreement before the end of an additional 90-day additional tariff pause.
Tokyo’s Nikkei shares index rose as much as 2.5% to 42,867.69 points, while Australia’s ASX 200 index rose 0.14% to 8,828,67. Its momentum is helped by the Reserve Bank of Australia Reduce its main interest rate to a two-year low of 3.6%.
In China, the Shanghai Composite Index rose 0.5%. Hong Kong’s hanging index is still flat.
Investors hope negotiators can reach a trade deal on additional tariffs during the moratorium. Trump has previously threatened China’s import tariffs at a rate of up to 245%, while Beijing threatened to obtain retaliatory tariffs of 125%.
Under current regulations, the U.S. exports to China are about 30%, the benchmark tariffs for imports from China are 10%, and related to additional tariffs of 20%. Fentanyl smuggling charges Oppose China. The tariffs on U.S. exports to China are about 30%.
Economists warn Trump’s trade war system, especially against China, could seriously undermine the global economic outlookbecause it can lead to higher costs, disrupt supply chains and reduce international trade.
Oil prices also rose on Tuesday, hoping the trade war could be lowered. Brent crude futures rose 0.4% to $66.90 a barrel, while U.S. West Texas Intermediate crude futures rose 0.4% to $64.20.
Health & Wellness Contributor
A wellness enthusiast and certified nutrition advisor, Meera covers everything from healthy living tips to medical breakthroughs. Her articles aim to inform and inspire readers to live better every day.
