With much less fanfare but equal in import, we get a newly named day today as some of the tariff veil gets lifted even further. Said name a bit unclear but that matters less than the result, which is now a temporary hold on the elevated duties between the two main combatants, the US reducing theirs from 145% to 30%, China from 125% to 10. The standard caveat applies, tariffs can reverse course if substantive talks don’t occur in the next ninety days but the market clearly taking this as a big…
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