US EditionDow adds 1,100 points, S&P 500 up 3% after the U.S. and China slash tariffs
- On Monday, the U.S. And China agreed to a 90-day truce that significantly reduced tariffs after weekend talks in Switzerland.
- This truce followed months of escalating tariffs, with U.S. Rates dropping from 145% to 30% and China’s from 125% to 10%, though some tariffs remained high.
- The tariff reduction sparked broad gains in U.S. stock markets, including a 1,160-point Dow Jones rise and a 3.3% jump in the S&P 500.
- Experts noted the deal brought a more realistic outlook and a 'bullwhip effect' of supply adjustments, while warning tariff damage and economic uncertainty persist.
- The pause provides an opportunity for additional negotiations and may boost U.S. Economic growth by around 0.4 percentage points, though significant obstacles persist and tariffs might increase again if a permanent deal is not reached.
187 Articles
187 Articles
Small business owner says "there's gonna be a Christmas this year" after U.S.
Effective Wednesday, the U.S. and China have agreed to lower tariffs on each other's products for 90 days to give trade negotiations room to move forward. David Mauro, the founder of JesusDolls.com, joins CBS News to discuss what the tariff reduction means for his small business.
US mission in Taipei says Trump's 'unification' comment was about US-China trade
TAIPEI (Reuters) - U.S. President Donald Trump's comment on "unification" was about the U.S.-China trade relationship and U.S. policy towards Taiwan has not changed, the de facto embassy on the island said on Tuesday, after the wording caused unease in…
A welcome de-escalation in the China trade war
Treasury Secretary Scott Bessent announced a welcome pause in the Trump administration’s trade wars Sunday. A preliminary agreement with China will reduce U.S. tariffs on most Chinese imports from 145% to 30%, with a reciprocal reduction on U.S. exports to China from 125% to 10%. The reprieve is set to last only 90 days, however, and there is still worry that higher tariffs could snap back if negotiations fall apart before a long-term agreement …
The Keys to the US-China Agreement to Lower Tariffs and Truce in Trade War
The U.S. and China have reached an agreement to reduce reciprocal tariffs and thus reduce tensions in the trade war launched on April 2 by U.S. President Donald Trump in the so-called “Liberation Day.” After two days of intense meetings in Geneva, Switzerland, U.S. Treasury Secretary Scott Bessent declared this Sunday that the meeting was over and that “the talks between the U.S. and China had been productive with substantial results.” The deleg…
Why prices may still spike amid new US-China trade deal
FORT WAYNE, Ind. (WANE) — Wall Street rejoiced on Monday as the Dow jumped 2.8% after President Donald Trump paused high tariffs on Chinese goods. The U.S. lowered tariffs on Chinese goods from 145% to 30% and China lowered tariffs on U.S. goods from 125% to 10%. According to the Associated Press, both sanctions will last for 30 days as talks between the nation's leaders continue. But with this pause on tariffs, will prices stay down? One local …
Chicago Tribune
What's next after Trump's trade truce with China?
By JOSH BOAK and DIDI TANG WASHINGTON (AP) — President Donald Trump’s agreement with China to temporarily reduce tariffs for 90 days offered the world some welcome relief. But a sense of uncertainty lingers, with the possibility that the trade war has already done some damage. The Trump administration agreed after talks this weekend in Switzerland to reduce its tariffs on imports from 145 percent to 30 percent. The Chinese government opted to re…
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