Tariff confusion

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Hopes are growing that talks involving the governments of the USA, Mexico and Canada could lead to a reduction in tariffs that were introduced this week. Meanwhile, no one in Washington is talking about relaxing the 10% tariff increase that was imposed on Chinese goods on Tuesday. And Friedrich Merz, the man who is likely to be the next German chancellor has announced a political deal to raise hundreds of billions of euros in extra spending on defence and infrastructure.