US Markets surge Following US-China Tariff Truce

US markets have surged after the United States and China agreed to reduce tariffs on each other’s goods for a 90-day period.

According to news reporters, Natalie Sherman, US markets are now trading at levels similar to those at the start of the year, reflecting a strong recovery since President Donald Trump first announced the “Liberation Day” tariffs in April. President Trump has declared the move a “total reset with China.”

European and Asian markets have also responded positively, rising on news of the significant de-escalation in the US-China trade conflict.

Under the new agreement, US tariffs on Chinese imports will drop from 145% to 30%, while China’s tariffs on American goods will fall from 125% to 10%. According to reporters, while the cuts are larger than anticipated, a 30% tariff still represents a substantial trade barrier.

BBC/S.S