U.S.-China Trade Truce Includes $30 Billion Tariff Reductions

U.S. and China agreed to reduce tariffs on $30 billion of goods, affecting exports such as agricultural goods, wood, and cosmetics, along with imports including small appliances and toys. The trade truce extension is set for two months, shorter than analysts' expectations of at least six months. Treasury yields have reached their highest level since 2007, contributing to rising borrowing costs. The outcome of these negotiations could significantly influence global market dynamics, impacting inflation and commodity prices.