China’s tariff hopes. A less worse scenario.

Thursday 24th April 2025

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US equities rose again this session, and te US dollar strengthened for the second session, as the Trump administration talked up the possibility of cuts to China’s tariffs. The Wall Street Journal reports the levies could be cut by more than half in some cases, although there’s declaration from Trump himself, or any indication of when  this might happen. But as NAB’s Taylor Nugent explains, that’s not stopped markets seeing the positive side of it all. PMIs came in a little weaker than expected across Europe and the US, although manufacturing did somewhat better than services. It’s mainly second tier data today and tomorrow, and a ceasefire deal between Ukraine and Russia is looking less likely – if it’s accepted it’s a win for Russia.

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