China and US agree to slash tariffs for 90 days

Markets have rallied after a weekend agreement to reduce tariffs to 10% in China and 30% in the US is good news for companies, markets, and the US dollar; however, pharmaceutical stocks are in focus as US president Donald Trump tries to reduce drug prices.

China and the US have agreed to slash tariffs on each other’s imports for 90 days. China have reduced their tariffs to 10% on US imports, while the US had reduced its tariffs on Chinese imports to 30%, with some exceptions.

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