Dow soars 1,000 points after US, China agree to lower tariffs for 90 days
Share this @internewscast.com

US stocks experienced a significant rise on Monday morning following an agreement between the White House and China to reduce rates for 90 days, which may mark a crucial easing of trade tensions between the two largest global economies.

The Dow Jones Industrial Average jumped 1,044 points, or 2.5%, while the S&P 500 and Nasdaq soared 2.9% and 4%, respectively. 

On Monday, Treasury Secretary Scott Bessent described weekend talks with China in Switzerland as “very productive,” announcing that both nations had decided to decrease tariff rates by 115% for a period of 90 days.

That brings the US tariffs on Chinese goods down to 30%, and the Chinese tariffs on US imports down to 10%.


US Secretary of the Treasury Scott Bessent and US Trade Representative Jamieson Greer at a news conference in Geneva, Switzerland.
Treasury Secretary Scott Bessent (right) announced the 90-day pause on higher tariff rates on Monday. REUTERS

A separate 20% tax on Chinese imports that President Trump attributed to the nation’s involvement in fentanyl smuggling will remain in place.

Bessent also gave investors hope for a long-term trade agreement in the near future.

“I would imagine in the next few weeks we will be meeting again to get rolling on a more fulsome agreement,” Bessent told CNBC’s “Squawk Box.”

Shares in tech and electronics firms jumped on Monday, as many of these products are produced in Chinese factories at low costs. 

Shares in Apple, which makes the majority of its iPhones in China, spiked 5.1%, while Amazon’s stock soared 8.6%.

Consumer tech brands welcomed the news, with Dell Technologies shares jumping 7%. 


Trader Edward Curran works on the floor of the New York Stock Exchange on May 9, 2025.
A trader works on the floor of the New York Stock Exchange on Friday. AP

Retailers selling televisions, laptops and smart devices also popped Monday morning. Shares in Best Buy rocketed up 8.1%.

“The unexpected larger reduction in tariffs between the US and China, despite being temporary, along with the creation of a framework for ongoing dialogue, is exactly what the stock market was hoping for,” noted Carol Schleif, chief market strategist at BMO Private Wealth, in a statement.

The 90-day pause comes at the perfect time for retailers and suppliers, who are preparing for the all-important back-to-school and holiday shopping seasons, Schleif added.

Prior to Monday’s temporary pause, consumers and businesses were facing steep additional costs from the tariffs, which threatened to send prices sky-high on electronics, clothing and toys. 

While the new tariff rates will still add to costs, they’re much less dramatic than the initial 145% tax that Trump levied on China last month, and Beijing’s retaliatory 125% duty.

The S&P 500 opened above where it stood on April 2, when Trump initially revealed the harsh “reciprocal” tariffs on his so-called “Liberation Day.”

“While the thawing in the trade war with China is a welcome sign, base level tariffs are still substantially higher than where they started, with some level of damage likely to work its way into the economic data in the months to come,” Schleif said.

Already, the trade war has hit some economic reports, with gross domestic product shrinking in the first three months of 2025 as US companies rushed to import foreign goods ahead of the tariff deadline.

Meanwhile, Chinese imports to US ports have dried up, and small businesses have warned the additional costs have already forced them to delay or cancel orders.

Share this @internewscast.com
You May Also Like
ICE sweeps through LA businesses as local Democrats cry foul over Trump administration's enforcement actions

ICE Conducts Raids in LA as Local Democrats Criticize Trump’s Enforcement Strategy

NEWYou can now listen to Fox News articles! U.S. Immigration and Customs…
Hundreds of teenagers transform peaceful beach into chaos as police forced to break up fights

Large Teen Gathering Turns Tranquil Beach into Turmoil, Prompting Police to Intervene

NEWYou can now listen to Fox News articles! A group of around…
Jury skepticism of experts could determine outcome in Karen Read murder trial: former judge

Former Judge Suggests Jury’s Doubt of Expert Testimonies Could Influence Karen Read Murder Trial Verdict

NEWYou can now listen to Fox News articles! Whenever there’s a battle…
Third Navy destroyer heads to southern waters as administration strengthens maritime border security

Third Navy Destroyer Deployed to Southern Waters to Enhance Maritime Border Security

NEWYou can now listen to Fox News articles! On Friday, the Navy…
A major explosion and fire with secondary detonations at Bryansk airfield led to speculation by Russian war channels that a new Western missiles was used, with some claims of a German-supplied Taurus.

Ukraine’s ‘Secret Missile’: New Weapon Unleashes Chaos on Russia, Spooking Putin and Forces

VLADIMIR Putin has been left shell-shocked by a brand new mystery missile…
Karen Read defense expert challenges hit-and-run theory with collision tests showing key inconsistencies

Karen Read’s Defense Highlights Inconsistencies in Hit-and-Run Theory with New Collision Test Evidence

NEWYou can now listen to Fox News articles! Karen Read’s legal team…
Israeli forces recover body of Thai hostage killed in Gaza by terror group

Israeli Military Retrieves Body of Thai Hostage Slain by Terror Group in Gaza

NEWYou can now listen to Fox News articles! The Israeli military has…
Bill Maher explains Elon Musk and Trump's big beautiful breakup

Bill Maher Discusses the Dramatic Split Between Elon Musk and Trump

The fiery feud between President Trump and Elon Musk is the most…
LA28 organizers confident Trump's latest travel ban won't affect Los Angeles Olympics

LA28 Organizers Assure That Trump’s Recent Travel Ban Won’t Impact Los Angeles Olympics

LOS ANGELES — The preparations for the 2028 Olympics in Los Angeles…
The horse Bobby Flay couldn't sell has long-shot Belmont Stakes dream

The Unsellable Horse Owned by Bobby Flay Aims for a Surprise Victory at Belmont Stakes

SARATOGA SPRINGS — With 15-1 odds, Crudo is unlikely to beat Kentucky…
Marin French Cheese Company is celebrating 160 years of cheese

Celebrating 160 Years of Cheese with Marin French Cheese Company

MARIN, Calif. — Nestled on a scenic ranch in West Marin, a…
Tuscaloosa homicide victim identified, suspect charged

“Coordinated Group Suspected in 10 Different Shootings Across Tuscaloosa County”

In Tuscaloosa County, Ala., the Sheriff’s Office has reported 75 indictments for…