1211 ET - The "Liberation Day" hit to financial markets is a distant memory as stocks surge on the back of the suspension of most tariffs between China and the U.S., Kathleen Brooks, research director at XTB, says in a note. However, while U.S. tariffs at 30% on Chinese goods are better than tariffs at 145%, 30% is still a hefty sum, which could hit the consumer and the inflation rate down the line, she says. The U.S. has also yet to strike a trade agreement with the EU, which has the potential to weigh on growth on both sides of the Atlantic, even if recession risks are likely to be revised down, she adds. (edward.frankl@wsj.com)
(END) Dow Jones Newswires
May 12, 2025 12:11 ET (16:11 GMT)
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