Fitch commented on Tuesday that the latest developments in US-China trade relations do not signify normalization between the two countries. In the absence of a lasting agreement, doubts about the final tariff rates and the impact of already implemented tariffs will remain key factors in macroeconomic forecasts, the rating agency said. Related NewsTrump Will Ink Executive Order to Axe Drug Prices by 30-80%Before planned tariff hikes, a spike in imports weighed down the US GDP by 0.3% in the first quarter. Although the removal of tariffs could mitigate economic impacts, Fitch opined that global trade and supply chains remain fragile.