Global markets rebounded after President Trump announced a “total reset” in US-China trade relations following talks in Switzerland. Both sides agreed to slash tariffs significantly, with US rates reducing from 145% to 30% and China’s from 125% to 10%. The deal sparked steep gains in retail and tech stocks, as well as shipping lines such as Maersk and Hapag-Lloyd. Though some of the tariffs are still on hold and could be reinstated within three months, the agreement was welcomed by international trade associations as a positive step toward eventual stability. The price of gold dipped 3.1% as investor sentiment improved.
Markets Rally as US-China Trade Talks Ease Tensions
