US Edition
Dow adds 1,100 points, S&P 500 up 3% after the U.S. and China slash tariffs
- On Monday, U.S. Stocks surged sharply after the United States and China agreed to slash most tariffs in a 90-day truce to ease trade tensions.
- The tariff reduction followed escalating import taxes that peaked at 145% on Chinese goods and 125% on U.S. Goods, with both sides agreeing to cut tariffs to 30% and 10%, respectively.
- The Dow Jones Industrial Average surged by 1,161 points , the S&P 500 increased by 3.3%, and the Nasdaq rose 4.3%, recording their largest single-day gains in over a month and marking the Nasdaq's recovery from a bear market.
- Keith Lerner attributed the strong market gains to the surprising progress on tariffs, while President Trump described the agreement as a triumph and committed to future talks with Xi Jinping to maintain the financial ties between the two countries.
- The temporary tariff reduction may boost U.S. Economic growth by around 0.4 percentage points and provides some relief to both retailers and consumers; however, experts caution that progress in the negotiations is likely to be gradual and challenges persist.
291 Articles
291 Articles
China–US scientific collaboration on sustainable development amidst geopolitical tensions
This study aims to investigate whether growing geopolitical competition has affected international collaboration in sustainable development research, with a particular focus on structural changes in bilateral research collaboration between China and the United States. Three datasets have been created and compared using bibliographic information provided by the Web of Science core collection: before the Trump administration, during the Trump admi…
Winners and losers in Trump’s pause on China tariffs
The curtain came down on the first phase of President Trump’s tariff and trade war earlier this week, when the U.S. announced a huge reduction in levies with China. Washington and Beijing agreed to take 115 percentage points off the tariffs they had imposed upon each other’s exports at the apex of the brief trade…
Trade war between China and the United States: reductions in customs surcharges enter into force
An agreement between China and the United States, which removes much of the customs surcharges they require, entered into force on Wednesday, a truce in their trade war that shook the world economy. ...
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