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A temporary reduction in punishing tariffs, agreed after weekend talks between American and Chinese officials, signaled a de-escalation in the trade war between the world's two largest economies.
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Both countries promised to say more on Monday about what talks over the weekend achieved. Until then, investors and businesses are guessing.
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Asia Stocks Rise on Hope for Lower Tariffs After U.S.-China Talks The New York TimesIndian stocks lead gains in Asia-Pacific as markets cheer ceasefire with Pakistan and U.S.-China trade deal CNBCStock futures rise after ‘substantial progress' is made in US-China trade negotiations CNNAsian Stocks, US Futures Gain on China Trade Talks: Markets Wrap Bloomberg.com
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The White House said it was announcing a trade deal without providing any details. Representatives from the U.S. and China had been meeting in Switzerland.
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The U.S. and China had "productive" trade negotiations over the weekend, U.S. officials said Sunday, without announcing any further details.
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Treasury Secretary Scott Bessent said the details would be announced on Monday after two days of negotiations in Geneva.
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