The US and China reached a temporary agreement to cut tariffs, a move seen as beneficial for both economies. This strategic retreat allows more time for negotiations, which is crucial given the potential negative impact on small businesses and threats of recession. While the truce avoids immediate economic fallout, concerns remain over China's trade practices. Ultimately, the weekend talks between US and Chinese officials were pivotal in fostering communication, though the long-term effectiveness of this agreement is still uncertain.
In the end both sides blinked, and that is a good thing.
Capitulation for us meant avoiding the following: Small businesses were about to get walloped.
Not coincidentally, all of the above was set to begin around this week, which is why I gather this weekend's talk went so smoothly.
Was it all worth it? Tough to tell.
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