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Tag: international trade policy
A Temporary Truce: The U.S.-China Tariff Reduction and Its Implications for Global Trade
U.S.-China Tariff Reduction: On May 12, 2025, the United States and China announced a significant, albeit temporary, reduction in tariffs, marking a notable de-escalation in their ongoing trade conflict. The agreement entails the U.S. lowering tariffs on Chinese goods from 145% to 30%, while China reduces its tariffs on U.S. goods from 125% to 10%, effective for a 90-day period starting May 14, 2025 . This development follows a series of tit-for-tat tariff increases that have strained bilateral relations and disrupted global supply chains.
Oil Markets on Edge: U.S.-China Trade Talks Signal Potential Shift in Global Energy Dynamics
U.S.-China Trade Talks: On May 9, 2025, global oil markets experienced a modest uptick, with Brent crude rising to $63.07 per barrel and U.S. West Texas Intermediate reaching $60.12 per barrel. This increase follows a 3% surge the previous day, primarily attributed to easing trade tensions between the United States and China, the world's two largest oil consumers. The anticipation of high-level trade discussions scheduled for May 10 in Switzerland between U.S. Treasury Secretary Scott Bessent and China's Vice Premier He Lifeng has injected cautious optimism into the markets.
Gold Prices Decline Amid U.S.-U.K. Trade Deal and Anticipation of U.S.-China Talks
On May 9, 2025, global financial markets witnessed a notable shift as gold prices declined following the announcement of a U.S.-U.K. trade agreement and in anticipation of upcoming U.S.-China trade talks. The spot price of gold fell to $3,274.38 per ounce before rebounding slightly to $3,316.29, while U.S. gold futures settled at $3,321.60 . This movement reflects the complex interplay between international trade relations and investor behavior, particularly regarding safe-haven assets like gold.
Citigroup Taps Ex-Trade Chief in Boldest Adviser Move of the Year
On May 1, 2025, Citigroup announced the hiring of Robert Lighthizer, the former U.S. Trade Representative (USTR) under President Donald Trump. The appointment of Lighthizer to such a prominent financial institution marks a significant moment in the ongoing debate over the “revolving door” between public office and the private sector. Lighthizer, who played a critical role in reshaping U.S.-China trade relations, overseeing tariffs, and renegotiating trade deals like the United States-Mexico-Canada Agreement (USMCA), is stepping into a corporate world that is deeply affected by international trade policies.