Analysts said the reduction in US tariffs creates space for Chinese producers to gain on Asian competitors – particularly in low-cost goods.

With the US cutting its tariffs on Chinese imports by 10 per cent – halving a duty initially imposed by Washington over allegations of complicity in the fentanyl trade – analysts said the reduction may further strengthen the competitiveness of Chinese exporters, particularly in mass-produced goods. Following a meeting on Thursday between President Xi Jinping and US President Donald Trump in South Korea, the world’s two largest economies reached a consensus on the issue, with the US agreeing to…

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