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US equities close near flat as investors gauge Trump tariff comments
Business World Philippines
|May 12, 2025
US stocks ended the week on a quiet note on Friday after oscillating between slight gains and declines, as investors gauged President Donald J. Trump’s comments on Chinese tariffs ahead of weekend trade talks between the two countries.
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Wall Street's main indexes finished slightly lower for the week.
Mr. Trump said Beijing should open its market to the US and that setting 80% tariffs on Chinese goods “seems right.” The comments marked his first specific suggestion in a change for the levies, currently at 145%.
Representatives from the two economic powerhouses are to meet in Switzerland over the weekend to discuss tariffs. Investors hope it will mark a first step toward ratcheting down a trade war that has sparked concerns over global economic growth and resurgent inflation.
While many saw the discussions this weekend as being of a more preliminary nature, Mr. Trump said on Thursday he expects substantive talks.
This story is from the May 12, 2025 edition of Business World Philippines.
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