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Market Focus: US, China trade deal boosts markets, but uncertainty remains
In this Market Focus episode of the Oil & Gas Journal ReEnterprised podcast, Conglin Xu breaks down recent developments in the global energy markets. The US and China reached a temporary trade agreement on May 11. The US will lower tariffs on Chinese goods to 30% from 140% and China will reduce tariffs on US imports to 10% from 125%. Certain tariffs, particularly those related to cars, steel, and aluminum, remain in place. Overall, the agreement led to a positive response in global markets. US stocks surged, and oil prices experienced a strong uptake. With tariffs reduced, if sustainable…
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