The stock markets were flat on Friday as investors were waiting for the start of the very expected trade talks between the United States and China this week. S&P decreased 0.07 %, Nasdak It was flat, and Dao Jones slipped 0.3 %. The markets closed the stagnant week, and the Monday was dipped before the losses later in the week.
Treasury Scott Bessin said on Tuesday: Declare To travel to Geneva, Switzerland, to meet his Chinese counterparts.
Before the BESSENT meeting, President Donald Trump weighed on Friday, what he believed would be a fair tax on Chinese exports to the United States “a 80 % tariff in China seemed correct! Even Scott B”, posted on his social media platform.
This will be a 145 % reduction in the current tariff rate on China imposed by Trump in April, but it is still a high tax on one of the largest trading partners in the United States. The People’s Republic against the United States has averages up to 125 % of the US export tax, and the Hagian trade war has already affected world trade.
China said on Friday that exports to the United States decreased by 21 % on an annual basis in April, and the American ports are Reporting Falling activity. For example, Portland Port in Oregon witnessed a 50 % decrease in exports since “Liberation Day” on April 2, when Trump first unveiled his wing of historically high tariffs.
However, the president said that his administration made progress in commercial deals. On Thursday, it is unveil Commercial framework with the United Kingdom. The United Kingdom allows the United Kingdom to charge 100,000 cars annually to the United States with a 10 % tariff, with anything more than a tax of 25 %. Steel and aluminum can enter the US tariff empty. Tim Mayer, Professor of Trade Law at Duke University, He said Bloomberg’s commercial deal was “nothing burger.” Detroit car manufacturers, including General MotorsFord, and Stelantisand Criticize the White House However, the claim of its states in the United Kingdom on Mexico and Canada.
“Many commercial deals in Qados, are all good (great!)!” Trump posted on the social truth on Friday.
On Friday, the stagnant markets put an end to the emergence of the market, which pushed the shares in early May. While Trump’s initial definition plans caused the market tank after distinguishing a sticker of cardboard that defines the taxes imposed on dozens of countries, the markets have since recovered to pre -liberation levels.
This story was originally shown on Fortune.com
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