A 90-day pause on punishing tariffs could restart trade between the world’s largest economies. But it is not enough to resolve uncertainty about the economy.

US stocks end sharply. May 12, 2025. Wall Street's three major indexes rose sharply on Monday with the S&P 500 marking its highest lev

The United States and China slashed tariffs on each other’s goods in a surprise breakthrough aimed at reviving trade between the economies. — British plane and aircraft parts are exempt from any potential tariffs that could stem from the Trump administration’s latest Section 232 investigation.

A deal with China is a relief to investors who worried 145% tariffs would severely limit trade, raise prices and hurt the US economy.

The Dow Jones, S&P 500 and Nasdaq pointed to their best day in over a month as the White House rolled back the 145% tariff rate on Chinese goods to 30%.