U.S., China Agree to Large Tariff Cuts
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Stocks closed mostly higher on Tuesday after the release of encouraging inflation data, adding to big gains posted the previous session following a de-escalation in the trade spat between the U.S. and China.
Stock futures rose Sunday after Treasury Secretary Scott Bessent said “substantial progress” was made in trade negotiations with Chinese officials, potentially thawing tensions kickstarted by Trump’s escalating tariff policy.
US stock futures surged even higher on Monday after the US and ... the two sides had reached a deal for a 90-day pause in measures that would see tit-for-tat tariffs cut by 115%.
The 90-day pause is a major de-escalation in the tariff war and comes after talks between both countries in Geneva.