The U.S. and China took a meaningful step toward cooling trade tensions this week and announced a framework agreement in London that outlines potential mutual tariff reductions. Under the deal, China would ease rare-earth export restrictions, while the U.S. would loosen chip control measures. While structurally finalized, the framework still awaits formal approval from both presidents. However, it provides a brief moment of clarity in what has been an otherwise uncertain tariff standoff.
Markets were little changed on the news though, as investor sentiment remains cautious. Uncertainty around the broader economic outlook continues to fuel market volatility.
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