U.S. investment markets were riding a value surge following a new U.S.-China trade agreement announced Monday that temporarily slashes retaliatory tariffs from both countries by 115%.
As of late Monday morning, the Dow Jones Industrial Average was up over 900 points, the S&P 500 gained 2.6% and the Nasdaq Composite popped 3.5% in heavy trading driven by the positive international news.
The U.S.-Sino trade deal announcement followed two days of meetings in Geneva between Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer with a delegation of Chinese officials.
“We had very productive talks and I believe that the venue, here in Lake Geneva, added great equanimity to what was a very positive process,” Bessent said during a Monday news conference.
“We have reached an agreement on a 90-day pause and substantially move down the tariff levels. Both sides on the reciprocal tariffs will move their tariffs down 115%.”
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Stocks surge in response to U.S.-China tariff news
- by: Art Raymond
- 2025-05-12
- Source:
Deseret
- 05/13/2025
