Dollar Rises to 1-Month High After U.S., China Agree to Lower Tariffs Significantly -- Market Talk

Dow Jones

2025/05/12

0729 GMT - The dollar rises to a one-month high after U.S. Treasury Secretary Scott Bessent said the U.S. and China have agreed to lower tariffs substantially following talks at the weekend. The U.S. reciprocal tariff on China will be lowered to 10% from 125% while China has also agreed to lower tariffs on U.S. imports to 10% from 125%. The two sides have also reached an agreement on a 90-day pause on tariffs. The DXY dollar index rises to a high of 101.414. The euro falls to a one-month low of $1.1132, according to FactSet.(renae.dyer@wsj.com)

(END) Dow Jones Newswires

May 12, 2025 03:29 ET (07:29 GMT)

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