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    <description>Extension of tariff exemptions for certain imported goods reduced near-term disruption risks for industries reliant on those inputs, while concurrent export controls on AI chips and restrictions on software sales, plus visa-related measures, sustained bilateral frictions. Together these regulatory adjustments produced a mixed but net calming effect on investor sentiment, prompting gains in Asian and US equity markets, rising oil prices amid supply concerns, and higher Treasury yields as markets re-priced supply-chain, input-cost, and fiscal policy uncertainty.</description>
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