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There are a few sectors in which Americans could still feel the pain of higher levies longer term.
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The temporary reprieve will slash the U.S. tariff on Chinese goods from 145 percent to 30 percent.
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Both countries promised to say more on Monday about what talks over the weekend achieved. Until then, investors and businesses are guessing.
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Trump says China will 'open up' to U.S. businesses, suspend trade barriers CNBCU.S. and China Reach Deal to Temporarily Slash Tariffs The New York TimesSchumer: China ‘got the better of Trump' The HillFact Sheet: President Donald J. Trump Secures a Historic Trade Win for the United States The White House (.gov)Faisal Islam: US and China step back from brink BBC
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The consumer discretionary sector is particularly sensitive to soft consumer demand and tariff-fueled macroeconomic uncertainty.
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The White House said it was announcing a trade deal without providing any details. Representatives from the U.S. and China had been meeting in Switzerland.
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