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US stocks soar as US and China agree to slash tariffs

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The U.S. agreed to cut tariffs on Chinese goods from 145% to 30%, while China committed to reduce tariffs on U.S. products from 125% to 10%. The previous set of sky-high tariffs had threatened a surge in prices and a possible U.S. recession, experts told ABC News.
U.S. stocks experienced a significant surge following an agreement between the U.S. and China to reduce tariffs, marking a pivotal moment in their ongoing trade negotiations. The deal, which involves cutting tariffs on a range of goods, has been hailed as a major step towards easing trade tensions between the world's two largest economies. Investors reacted positively to the news, with major indices like the Dow Jones Industrial Average, S&P 500, and Nasdaq all posting strong gains. The agreement is expected to boost global economic growth and enhance market confidence, although some analysts caution that challenges remain in fully resolving the trade dispute.

Read the Full ABC News Article at:
[ https://abcnews.go.com/Business/us-stocks-soar-us-china-agree-slash-tariffs/story?id=121708443 ]