US Bessent: Confident that magnets will flow in China-US deal ...Middle East

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US Bessent: Confident that magnets will flow in China-US deal
This is a de-escalation.Agreement with China will allow magnets to flow to everyone who received them before on a regular basis.20% fentanyl tariffs on China remain in place.Now our tariffs are 30% on China, theirs are 10%.On August 12 tariffs date says going to be up to Chinese, think we can keep this de-escalation under control.We don't want to decouple from China.

The market has been looking past the tariffs stuff for quite some time already. The tariffs on China will likely settle around these levels or a bit lower and the rest will keep 10%.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

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