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Dow closes up 1,160 points 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.
The Dow Jones Industrial Average surged by 1160 points following an agreement between the United States and China to reduce tariffs, signaling a significant de-escalation in their ongoing trade war. This development not only boosted investor confidence but also led to a broad rally in the stock market, with the S&P 500 and Nasdaq also recording substantial gains. The agreement involves both countries rolling back tariffs on billions of dollars worth of goods, which is expected to ease tensions and foster better economic relations. Financial analysts are optimistic that this move will pave the way for further negotiations and potentially a comprehensive trade deal in the future.

Read the Full ABC News Article at:
[ https://www.msn.com/en-us/money/markets/dow-closes-up-1160-points-as-us-and-china-agree-to-slash-tariffs/ar-AA1ECojS ]