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The stock market rose on Monday after President Donald Trump issued details about the progress made in the trade talks between the United States and China.
During the weekend, US Treasury Secretary Scott Besin, American Trade Representative, Jameson Jarir, and Chinese officials, including the Chinese Deputy Prime Minister, who was Living, in Switzerland to discuss the options for ending a trade war that relies on the customs tariff that closed all trade between economic giants.
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The meeting went well. Fears that talks can collapse if any of the two sides are dug over exaggerated, given a major stop in the US tariff and China on May 12.
President Trump announced that the customs tariffs, which total 145 %, will be reduced to 10 %, and Chinese definitions on American goods will be reduced from 125 % to 10 %. Ventanil tariffs will remain 20 % in China now.
Reducing trade tension was welcome in Wall Street. The S&P 500 and the nasdaq compound rose on the news, as it rose 3.3 % and 4.35 %, respectively.
The stock market finds a wave after the introductory progress
The customs duties have become the cornerstone of the Trump administration, but the markets’ response to the customs tariff has sparked a major debate about whether the resulting inflation can hinder the American economy, which leads to recession or worse, stagnation.
The stock market, despite the Donald Trump campaign on the promises of definitions of definitions, was surprised by the cruel import taxes expected this year, which contributed to the dramatic sale that witnessed in its worst cases to reach 500 S&P indexes by 19 % of the February Summit.
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The sale of Trump was operated by a 25 % tariff in Canada and Mexico in February, a wave of customs tariffs in early April, including 25 % of the tariffs on cars, a 10 % baseline tariff for all imports, and mutual tariffs on individual countries of up to 46 % per night.
However, the market found its position on April 9, when President Trump stopped most of the 90 -day mutual definitions of commercial negotiations.
Since then, the S&P 500 and NASDAQ have made a percentage of two -digit percentage, as it has recovered to the levels that were last seen before the announcement of the early tariff in April.
The gains came despite the escalation of commercial tensions with China, which were excluded from the mutual definition because it takes revenge on its definitions. The customs tariff for Tat eventually led to a 145 % tariff on Chinese exports to the United States and 125 % on American exports to China.
Those high levels in the sky were effectively closed between the United States and China, leading to the wide fear of lack of products and inflation in everything from clothes to cars.
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These concerns fell dramatically today after the White House announced that it would reduce import taxes to 30 %, and consists of a 20 % fentian tariff and a 10 % tariff. China’s tariff will decrease by 125 % to 10 %. The new tariff rates will be valid on May 14.
The news has sparked a large -scale range in stocks, especially in difficult sectors such as technology and retail trade.
NVIDIA, the leading company in semiconductor chips used in artificial intelligence, has seen 4.75 % share a jump. The alphabet rose 3.7 %. Apple shares increased 6 %. Tesla’s share price increased 6.8 %.
In retail, Target, which sources of many products abroad and get a smaller percentage of their groceries, rose 4.9 %. Likewise, KoHL shares rose 13 % while MAKY’s was 6 %. Nike, which relies heavily on imports from Asia, has seen her share of 7.3 % climbing.
President Trump pointed out a temporary stop as part of “full resetting with China.”
“The talks in Geneva were very friendly,” Trump said. “The relationship is very good.
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