The suspension must take effect “by May 14,” said the press release. In parallel, the two powers will lower their customs duties by 115 percentage points, said US finance minister Scott Bessent. The two parties will be able to negotiate during this 90 -day break, said Jamieson Greer, the American representative to trade.
Oil prices jumped more than 3 % in the morning, boosted by the relief of investors after the announcement of the temporary suspension of part of the punitive customs duties. The Hong Kong Stock Exchange has also climbed more than 3 % in stride.
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