Overview

• The US and China agreed to a 90-day suspension of reciprocal tariffs, reducing US duties on Chinese goods from 145% to 30% and Chinese tariffs from 125% to 10%.
• Moody's downgraded the US sovereign credit rating from Aaa to Aa1, citing rising debt and fiscal uncertainty linked to the tariff policies.
• European consumers are increasingly avoiding US brands, with new apps like Brandsnap and Detrumpify enabling product origin identification to support boycotts.
• President Trump publicly criticized Walmart for potentially passing tariff costs to consumers, warning of political and economic scrutiny.
• Market volatility remains high, with scaled-back expectations for interest rate cuts by the Federal Reserve and European Central Bank following tariff developments.