Source: International Business Times
US Treasury Secretary Scott Bessent (L) and Trade Representative Jamieson Greer hailed 'substantial progress' in the trade talks with China AFP Asian stocks rallied Monday after top Chinese and US officials held "substantial" trade talks at the weekend, fuelling hopes the two sides will dial down a tariff standoff that has rattled global markets and fuelled recession fears. Investors have been on a rollercoaster ride since Donald Trump unveiled eye-watering tolls on trading partners on April 2, with the heftiest saved for Beijing, raising concerns of a trade war between the economic superpowers. The US president eventually hiked the measures against China to 145 percent, which were met with retaliatory rates of 125 percent.
