0720 GMT - The soon to be held meeting of senior U.S. and China officials could lay the ground for the gradual removal of tit-for-tat tariffs, Morgan Stanley analysts write in a note. The prevailing tariff rates are evidently too prohibitive for bilateral trade, they say. However, U.S. effective tariffs on China will only be lowered to elevated levels from prohibitive levels with a terminal rate of 45% by the end of this year. A durable resolution remains elusive given the wide scope of issues in the bilateral relationship, MS says. The U.S. bank maintains its view that China's real GDP will slip to 3.7% in 4Q and the peak of tariff pain will be felt in 2Q.(jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
May 07, 2025 03:20 ET (07:20 GMT)
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