U.S. and China Agree to 90-Day Tariff Reduction, Boosting Markets
In a significant development, the U.S. and China have agreed to a 90-day reduction in reciprocal tariffs, easing tensions in their ongoing trade dispute. The agreement includes the U.S. reducing tariffs on Chinese goods from 145% to 30%, while China lowers tariffs on U.S. goods from 125% to 10%. This announcement led to a surge in global financial markets, with the Dow Jones Industrial Average rising over 2% and tech stocks rallying.