US, China reach deal to ease export curbs, keep tariff truce alive
1. US and China agree on a trade framework to ease tensions. 2. Tariff rates may revert from 30% to 145% if negotiations fail by August. 3. China's exports to the US plummeted 34.5% in May, highest drop since COVID. 4. Global markets cautious but near record highs; outcome anticipated. 5. World Bank lowers 2025 growth forecast due to tariffs and uncertainty.