A recent joint statement from US and China officials announced a temporary suspension of new tariffs, leaving current tariffs at 10% for 90 days. This development follows a period of intense tariff threats that could have deeply impacted trade relations. However, if new agreements are not reached within this timeframe, both countries may reimpose higher tariffs. While this news brings relief to consumers and the shipping industry, significant concerns remain for the tech sector, which suffers from budget uncertainties due to the ongoing trade tensions.
Despite the looming risk of steep tariffs, the US and China reach a temporary agreement to maintain a 10% tariff for 90 days, easing immediate tensions.
The trade war may have eased, but with tariffs potentially reinstating in 90 days, the technology sector remains under significant pressure and uncertainty.
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