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U.S. tariffs on China won't change again, Lutnick says after trade talks
- Following trade discussions in London, U.S. Commerce Secretary Howard Lutnick confirmed that the current tariff rates on Chinese imports will remain unchanged moving forward.
- This followed high-level negotiations that established a fragile trade truce, though the overall deal remains subject to final approval by Presidents Trump and Xi.
- The United States maintains tariffs at 55% on Chinese imports while China holds its tariffs on U.S. goods at 10%, continuing temporary duty reductions agreed last month.
- Lutnick said China will promptly approve U.S. magnet and rare earth import applications despite Beijing having previously 'slow-rolled' exports, and Trump declared the deal is 'done' but pending approval.
- The trade truce, shaped by Trump's recent call with Xi, reduces immediate tensions but leaves uncertainties about longer-term rare earth supply and trade enforcement.
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What's Going On With XPeng Stock Today? - XPeng (NYSE:XPEV)
XPeng Inc. (NYSE:XPEV) shares are trading lower in the premarket session on Friday. This downturn is likely happening in the context of a recently confirmed US-China trade deal, which maintains a 55% tariff on selected Chinese imports into the U.S., while China will apply a 10% tariff on U.S. goods. The broader market for Chinese EV stocks also saw a dip, with competitors like NIO Inc. (NYSE:NIO) and Li Auto Inc. (NASDAQ:LI) also trading lower. …
·Detroit, United States
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Coverage Details
Total News Sources24
Leaning Left6Leaning Right4Center6Last UpdatedBias Distribution38% Left, 37% Center
Bias Distribution
- 38% of the sources lean Left, 37% of the sources are Center
38% Left
L 38%
C 37%
R 25%
Factuality
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