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Markets rally after China, US slash levies
Cape Times
|May 13, 2025
STOCKS rallied yesterday after Chinese and US officials held “substantial” trade talks and slashed their tit-for-tat tariffs for 90 days, fuelling hopes the two sides will pull back from a standoff that has rattled global markets.
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Investors have been on a roll-er-coaster ride since Donald Trump unveiled eye-watering tolls on trading partners on April 2, with the heftiest saved for Beijing, raising concerns of a trade war between the economic superpowers.
The US president eventually hiked the measures against China to 145%, which were met with retaliatory rates of 125%.
However, there have been signs of an easing of tensions and after two days of highly anticipated negotiations in Geneva, the two countries hailed progress towards ending a crisis that fuelled fears of a global recession.
Yesterday the two said they would slash their levies to cool tensions.
Esta historia es de la edición May 13, 2025 de Cape Times.
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