US-China talks have concluded for now, with both parties agreeing to construct a formal, mutually beneficial framework that would honor the trade truce of the world’s largest economic superpowers.
The United States pledged to hold new tariffs at 30%, maintaining at the same time its originally proposed 10% baseline tariff on all the imported Chinese goods. Also kept intact will be the 20% tariff on fentanyl, a hot topic for discussion
China on the flip side agreed to keep a 10% tariff on a broader list of goods as well as supply the US with rare earth elements ( a market that China controls 60% of) which are vital to major US companies, particularly in the auto, semiconductor, and smartphone manufacturing sectors
President Trump nevertheless said that he plans to draft and send letters to its key trading partners within the next two weeks detailing the imposed unilateral tariffs in order to fast track the process and indirectly force nations to sign into trade agreements.
US Treasury Secretary Bessent hinted however that the administration may potentially extend the 90- day pause period for those countries that would act in “good faith” in negotiations.
Technical Analysis
EURUSD Chart – Euro capitalizes on the dollar’s weakness, gears up to break into 3 ½ year highs
Resistance: 1.1570 (R1), 1.1680 (R2), 1.1800 (R3)
Support: 1.1450 (S1), 1.1280 (S2), 1.1160 (S3)