US EditionStocks soar after US, China strike trade truce
- On Monday, the United States and China announced a three-month pause in their trade dispute, temporarily lowering most tariffs following negotiations held over the weekend in Geneva.
- This agreement resulted from escalating tariffs that had reached as high as 145% on Chinese goods and 125% on U.S. Goods, which severely disrupted trade between the two largest economies.
- Stocks surged worldwide, with the S&P 500 rising 3.3%, the Dow gaining 1,160 points, and major Asian markets also advancing, while uncertainties about long-term progress tempered some gains.
- The U.S. Announced it will reduce tariffs on Chinese products from 145% to 30%, while China plans to lower its tariffs on U.S. Goods from 125% to 10%. Economists predict this agreement may boost U.S. Economic growth by 0.4 percentage points this year.
- Though the 90-day reprieve supports economic stability and supply chains for key retail seasons, experts warn negotiations will be slow and the overall trade war risks remain significant.
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Investors cheer tariff truce, but cautious over a final deal
A breakthrough in United States-China trade talks has propelled world stocks and the US dollar higher, but investors fear further negotiations could prove a long slog, tempering optimism, as risks of a global economic slowdown persist. © New Straits Times Press (M) Bhd
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Wall Street dips as euphoria over China-US trade truce fades and new inflation data arrives
Wall Street was on track to open with losses as the initial euphoria over the 90-day truce in the U.S.-China trade war faded and markets turned their attention to corporate earnings and the latest inflation data. Futures for the S&P…
·Cherokee County, United States
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Total News Sources467
Leaning Left89Leaning Right58Center123Last UpdatedBias Distribution46% Center
Bias Distribution
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46% Center
L 33%
C 46%
R 21%
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