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Tag: WTO compliance
U.S. and China Slash Tariffs in Temporary Trade Truce: A Comprehensive Analysis
U.S. and China Slash Tariffs: In a significant development in international trade relations, the United States and China have agreed to a 90-day reduction in tariffs, marking a temporary truce in their ongoing trade conflict. This agreement, reached after intensive negotiations in Geneva, reduces U.S. tariffs on Chinese goods from 145% to 30% and lowers China's tariffs on U.S. goods from 125% to 10% . The truce aims to provide a window for both nations to negotiate a more permanent resolution to their trade disputes.
Navigating the New U.S.-U.K. Trade Framework: Legal, Economic, and Policy Dimensions
On May 8, 2025, the U.S.-U.K. trade framework aimed at alleviating some of the tariffs imposed in recent years. This agreement marks a significant development in international trade relations, particularly in the context of President Donald Trump's "Liberation Day" tariffs, which introduced a 10% baseline tariff on imports and higher rates on specific goods. The new framework seeks to reduce tariffs on certain products, such as British automobiles and steel, while maintaining others. It also opens up the U.K. market to more U.S. agricultural exports.
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.
Navigating the New US-UK Trade Agreement: Legal, Economic, and Policy Implications
On May 9, 2025, the United States and the United Kingdom announced a new trade agreement, marking a significant development in transatlantic relations. This deal, the first major trade agreement under President Donald Trump's second term, aims to reduce tariffs and enhance economic cooperation between the two nations .
The agreement includes provisions such as a reduced 10% tariff on 100,000 UK cars exported to the US and increased access for US beef and ethanol producers to the UK market . While both governments tout the deal as a diplomatic success, it has sparked debates over its legal structure, economic benefits, and alignment with international trade norms.