Europe EditionStock futures rise after ‘substantial progress’ is made in US-China trade negotiations
- US and Chinese officials met in Geneva on Sunday evening to discuss trade amid ongoing tariff tensions.
- The meeting took place following President Trump's recent decision to apply 145% tariffs on the majority of imports from China, which prompted China to respond with retaliatory tariffs of 125% on American products.
- Treasury Secretary Scott Bessent said the talks achieved "substantial progress," while Commerce Secretary Howard Lutnick confirmed the US would not lower tariffs below 10%.
- Dow futures rose 1.03%, gaining 427.66 points, while S&P 500 futures increased 1.31% and Nasdaq futures climbed 1.71% as markets reacted at 7:45 p.m. ET.
- The progress implies a potential easing of US-China trade tensions, though tariffs around 10% are expected to remain, with broader economic effects still uncertain.
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The US and China are taking a big step towards each other in the trade dispute and Wall Street is celebrating. Supply chain problems are cleared up for now, especially tech values are experiencing a comeback.
Crops higher on trade talk progress with China
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·Cherokee County, United States
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Donald Trump’s and Xi Jinping’s envoys announced a 90-day tariff reduction starting May 14 after “substantial progress” at the Geneva meetings, driving the markets of Asia, Europe and Wall Street’s futures
·Buenos Aires, Argentina
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Coverage Details
Total News Sources58
Leaning Left13Leaning Right5Center16Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
47% Center
L 38%
C 47%
15%
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