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2w ago

US-China Trade Talks Yield Preliminary Deal, Markets Respond Positively

Officials announce progress on reducing trade deficit and establishing a dialogue forum, while investors await key US economic data for further clarity.

U.S. dollar, Euro, Yen and Pound banknotes are seen in this illustration taken May 4, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
China and U.S. flags are displayed alongside a miniature worker in this illustration picture taken November 7, 2024. REUTERS/Florence Lo/Illustration/File Photo
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Overview

  • US and Chinese officials reached a framework agreement in Geneva to reduce the US trade deficit and initiate a new economic dialogue forum.
  • Asian markets rallied, with Hong Kong's Hang Seng Index rising over 1%, as optimism grew over de-escalating trade tensions.
  • The US dollar gained against major currencies, reflecting improved market sentiment following the weekend negotiations.
  • Investors are closely monitoring upcoming US CPI and retail sales data to evaluate the economic impact of recent tariffs.
  • Concurrent diplomatic developments include an India-Pakistan ceasefire and plans for Ukraine-Russia talks in Turkey.