Kencom
05-13

This is the short term (90 days) cut. China is aiming for zero tariff like what Japan is targeting at. End of the day, with presuures from those developed countries, US will have to come into concession to a lower tariff. The other pressing issue is the bond maturity in Jun 25, that is the moment where the world is watching how US is going to honour the repayment where the credibility is at the lowest points. Who will be buying the new issued bond.

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