US and China agree to critical extension, averting tariff surge on the world’s two largest economies
The United States and China have reached a pivotal agreement that will extend key trade arrangements, effectively halting a potentially destabilizing surge in tariffs between the world’s two largest economies. The move comes at a time when global markets have been closely watching every development in the economic relationship between Washington and Beijing, with concerns that escalating trade measures could disrupt supply chains, increase costs for consumers, and strain an already fragile global economy.The decision to extend the current terms signals a rare moment of cooperation between the two economic powers, whose relationship in recent years has been defined by…
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