US, China Tariff Pause Is a 'Dream Scenario' For Tech: Dan Ives
May 12, 2025
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4:15Now PlayingUS, China Tariff Pause Is a 'Dream Scenario' For Tech: Dan Ives
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as posted by the channelA rebound in risk appetite due to a reprieve in the US-China trade war led to a rally in stocks, with the S&P 500 jumping 2.5% and the Nasdaq 100 rising 3.2%.
The temporary lowering of tariffs between the US and China has given the countries time to negotiate a more comprehensive trade deal, boosting market sentiment and driving short-term yields higher.
Despite the positive news, some analysts remain cautious, citing the need for sustained earnings growth and a more dovish Fed to support a durable market rally.
Dan Ives joins Bloomberg Radio to discuss what this means for the tech sector.
US President Donald Trump said he would likely speak to Chinese leader Xi Jinping later this week following talks between Washington and Beijing to temporarily lower tariffs and de-escalate the trade war between the world’s two largest economies.
“I’ll speak to President Xi, maybe at the end of the week,” Trump said at the White House on Monday.
The tariff arrangement, agreed to after talks in Switzerland between Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer with a Chinese delegation, will see the combined 145% US levies on most Chinese imports reduced to 30% — including the rate tied to fentanyl by May 14 — while the 125% Chinese duties on US goods will drop to 10%.
The three-month lowering of import duties will give the countries time to negotiate a broader agreement on trade. The tariff reductions won’t apply to sectoral duties applied to all US trading partners or to tariffs applied on China during the first Trump administration.
Trump also claimed that China had agreed to “suspend and remove all of its non-monetary barriers.”
“They’ve agreed to open China, fully open China. And I think it’s going to be fantastic for China. I think it’s going to be fantastic for us, and I think it’s going to be great for unification and peace,” Trump said.
Trump said tariffs could go above the 30% level if talks over the next 90 days failed to secure an agreement, noting that they could be “substantially higher.” But he added that the US would not raise the combined China tariff back to the 145% levies.
The trade-talk developments saw Wall Street power ahead after solid gains in Asia and Europe, with the S&P 500 jumping about 2.5% to trade above President Donald Trump’s April 2 “Liberation Day” shock. Equities big and small advanced while a surge in big tech drove the Nasdaq 100 toward a bull market. The dollar rose almost 1%.
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