Market Chatter: US Government Mulls Major Tariff Cuts in Upcoming Talks With China
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The US administration is considering significant tariff reductions on Chinese goods in upcoming Geneva talks, aiming to lower tariffs below 60%. The discussions, led by Treasury Secretary Scott Bessent, may lead to reciprocal actions from China. While the talks are exploratory, potential reductions could be implemented as soon as next week. The US is also advocating for the removal of China's export restrictions on rare earth materials and progress in halting Chinese exports of drug manufacturing ingredients. The White House emphasizes advancing fair trade relations under President Trump's economic agenda.
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