*(CN) Traders circulating completely unverified Chinese/HK press report attributed to PhoenixTV that the tariff level between China and the US will be reduced "by more than 100%"
Monday, May 12, 2025 2:34:41 AMEST
**Reminder: Treasury Sec Bessent to brief on China talks at 03:00ET (07:00 GMT) - press
**Link: https://news.ifeng.com/c/8jIMWamoc1V
https://x.com/PhoenixTVHK/status/1921812139976556818
**Reminder: Citi analysts expected gradual and uneven progress in U.S.-China trade talks, with some tariffs—especially the 20% fentanyl tariffs and 91% escalatory tariffs—likely to be lifted to foster goodwill, while the 34% reciprocal tariffs remain the hardest to unwind due to ties to U.S. manufacturing and China’s industrial policy.
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**Link: https://news.ifeng.com/c/8jIMWamoc1V
https://x.com/PhoenixTVHK/status/1921812139976556818
**Reminder: Citi analysts expected gradual and uneven progress in U.S.-China trade talks, with some tariffs—especially the 20% fentanyl tariffs and 91% escalatory tariffs—likely to be lifted to foster goodwill, while the 34% reciprocal tariffs remain the hardest to unwind due to ties to U.S. manufacturing and China’s industrial policy.