China, US Step Back from Decoupling Brink, Slash Tariffs
US and China will temporarily lower tariffs on each other's products in a dramatic ratcheting down of trade tensions that buys the world's two largest economies three months to work toward a broader agreement. The combined 145% US levies on most Chinese imports will be reduced to 30% including the rate tied to fentanyl by May 14, while the 125% Chinese duties on US goods will drop to 10%, according to a joint statement and from officials in a briefing Monday in Geneva. Today's guests: Wei Li, BlackRock Global Chief Investment Strategist, Odile Renaud-Basso, EBRD President, Kyriakos Pierrakakis, Greek Finance Minister. (Source: Bloomberg)
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