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<Research>Citi Expects Great Chance of US Fentanyl Tariff Cut, CN Stimulus Policy Launch Less Urgent
The US-China tariff reduction exceeded the upper end of its expectations, Citi Research issued a research report saying. According to estimations, the effective US tariff on China ...
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<Research>Citi Expects Great Chance of US Fentanyl Tariff Cut, CN Stimulus Policy Launch Less Urgent
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The US-China tariff reduction exceeded the upper end of its expectations, Citi Research issued a research report saying.

According to estimations, the effective US tariff on China has fallen to 38.6%, returning to a non-restrictive period. Looking ahead, the broker believed that the 20% tariff on fentanyl is also likely to be reduced. If the US tariff on fentanyl is withdrawn, this will further remove the external barrier to the Chinese economy.

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When the trade tensions slow down, the urgency for the authorities to launch stimulus policies, especially fiscal policies, is significantly reduced, the report added.

Citi Research had earlier expected China to launch RMB1.5 trillion of fiscal/ quasi-fiscal incremental funds by the middle of 2025 to offset the impact of the US tariffs. However, with the US tariffs back to a non-restrictive period, the likelihood drops significantly.

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