0337 GMT - The unwinding of tit-for-tat tariffs imposed by the U.S. and China for 90 days significantly beat market expectations, BofA Securities Global Research analysts write in a note. When taking into account existing tariffs imposed during the last Trump administration as well as new exemptions, the effective levy the U.S. plans to impose on Chinese goods will come down to below 41% in the next three months, they say. Notably, China seemingly hasn't made any major concessions or pledged to purchase U.S. products, BofA Securities adds. Moving forward, China may consider pledging to buy more energy and agricultural products from the U.S. to secure a more sustainable deal, it says. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
May 12, 2025 23:37 ET (03:37 GMT)
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