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US economy
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- 1China and US agree tariff cuts on $60 billion of goods●China, US agree to tariff cuts on $60 billion of goods including agriculture, household items
China and the United States have agreed to cut tariffs on $60 billion worth of goods, covering agricultural products and household items, according to Reuters. The move marks a further step in easing trade tensions between the world's two largest economies. Details on timelines and reciprocal measures remain limited, but the deal is expected to lower costs for consumers and exporters on both sides.
- 2US and China strike trade deal worth $30 billion each●U.S. and China strike trade deal for tariff cuts worth nearly $30 billion each
The United States and China have reached a trade agreement that will cut tariffs worth nearly $30 billion for each side. The deal, reported by Fast Company, marks a significant step in easing tensions between the world's two largest economies. Further details on the terms and timeline have not yet been widely reported.
- 3
Discussion is focused on how US consumer spending is diverging along a K-shaped economy, where higher-income households continue to spend strongly while lower-income households pull back under pressure from prices and borrowing costs. PwC has published analysis examining this split and what it means for retailers and the wider economy heading into the year.