U.S. stocks leapt after China and the United States announced a 90-day truce in their trade war. The S&P 500 jumped 3.3% Monday. The Dow Jones Industrial Average rose more than 1,100 points, and the Nasdaq composite rallied 4.3%.
U.S. stocks leapt after China and the United States announced a 90-day truce in their trade war. The S&P 500 jumped 3.3% Monday. The Dow Jones Industrial Average rose more than 1,100 points, and the Nasdaq composite rallied 4.3%.
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Markets soared on the news, though exact details still have to be ironed out.
Investors need to remember there were questions about end markets even prior to the tariff announcements, and the shares could take time to fully recover. Over the weekend, the United States and China laid out the framework for a trade deal and suspended some of the most onerous tariffs imposed by the two countries. It isn't a done deal yet, but shares of heavy equipment companies that were facing a two-sided blow from the tariffs are rallying on the news.
U.S. stocks closed significantly higher on Monday in the first trading session after the U.S. and China announced an agreement to slash tariffs for 90 days as the world’s two largest economies negotiate a wider trade deal. The U.S. agreed to cut tariffs on Chinese goods from 145% to 30%, while China committed to reduce tariffs on U.S. products from 125% to 10%.
In solidly Republican Kentucky, resistance to President Donald Trump's trade wars has sprung up from a cross-section of key business sectors, GOP Sen. Rand Paul said Monday. Paul said he's heard concerns from agriculture, the auto sector, bourbon production, home building and package shipping in response to Trump's aggressive use of tariffs. Paul — among the few GOP senators willing to challenge Trump on tariffs — met with a group of Louisville business leaders on Monday.
Owning a home and a car and raising a family in comfort are key aspects of the American Dream, but tariffs could drive prices up too far for families to afford.
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Tariffs are a quiet tax that hurts small businesses already facing rising costs, broken supply chains, and labor pressure.
