Trade Winds Change
Weeks after a tariff truce took effect, container ships have been racing across the Pacific, and US ports that were once quiet are now buzzing with activity! This 90‐day tariff rollback between the US and the Chinese mainland is already lighting up global trade, just in time for the summer shopping season.
While the Chinese mainland slashed its tariffs on US goods to 10%, the US only cut tariffs on goods from the Chinese mainland to 30% (including a 20% fentanyl-related rate). Despite the uneven cuts, the agreement has boosted market confidence — major indices surged, and a renewed sense of optimism is spreading worldwide.
Looking Ahead
The recent Geneva talks have shown that genuine, fair negotiations can spark change. However, challenges remain with tech restrictions still in place, like the bans affecting Huawei's Ascend chipsets and limits on training AI models with US chips. These moves highlight that while progress is being made, much work is needed to fully normalize trade relations.
For tech-savvy young professionals and digital innovators across South and Southeast Asia, this development could mean more stable global supply chains — from the latest smartphones to trendy fashion finds. As the global trade scene evolves, we're all watching closely for the next big breakthrough! 🚀
Reference(s):
U.S. good faith crucial for productive trade talks with China
cgtn.com
