• US to modify application of the rate of duty on articles of China
  • This will be for an initial period of 90 days
  • China will also suspend its tariffs on the US for an initial period of 90 days
  • Only a 10% base tariffs rate will be applied

Risk is ramping up on the headlines here with S&P 500 futures now up by 2.5% on the day. Essentially, the US to cut tariffs on China from 145% to 30%. Meanwhile, China is lowering theirs from 125% to 10%.

Source: Forex Live