1147 GMT - The U.S.-China agreement is another substantial retreat from the Trump administration's aggressive stance, Capital Economics' Mark Williams says in a note. The U.S. is suspending for 90 days all but 10% of Trump's reciprocal tariffs, with the 20% fentanyl tariff still applying. While this is a significant de-escalation, there is no guarantee that the 90-day truce will give way to a lasting ceasefire, Williams says. "The U.S. still has higher tariffs on China than on other countries and appears to be trying to rally other countries to introduce restrictions of their own on trade with China. "China's leadership won't offer meaningful concessions while that remains the case," he cautions. (edward.frankl@wsj.com)
(END) Dow Jones Newswires
May 12, 2025 07:47 ET (11:47 GMT)
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