{"id":25173,"date":"2025-05-12T14:37:27","date_gmt":"2025-05-12T14:37:27","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/dow-gains-1000-points-after-u-s-and-china-agree-to-slash-tariffs-for-90-days\/"},"modified":"2025-05-12T14:37:27","modified_gmt":"2025-05-12T14:37:27","slug":"dow-gains-1000-points-after-u-s-and-china-agree-to-slash-tariffs-for-90-days","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/dow-gains-1000-points-after-u-s-and-china-agree-to-slash-tariffs-for-90-days\/","title":{"rendered":"Dow gains 1,000 points after U.S. and China agree to slash tariffs for 90 days"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     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class=\"lazyload embed__frame\" data-width=\"1920\" data-height=\"1080\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" id=\"u-s-and-china-have-agreed-to-temporarily-reduce-tariffs-for-90-days-here-are-the-details--hero\" title=\"Video: U.S. and China have agreed to temporarily reduce tariffs for 90 days. Here are  the details.\" data-sort-time=\"1747049283000\" data-update-time=\"1747049283000\"><\/iframe><\/p><\/div>\n<p>          <button class=\"player-overlay__button--icon-close__mobile\" data-target=\"\" aria-label=\"Close sticky player\"><br \/>\n        <svg class=\"player-overlay__button--icon\">\n          <use xlink:href=\"#player-icon-close\"\/>\n        <\/svg><br \/>\n      <\/button><\/p><\/div>\n<\/p><\/div><figcaption class=\"embed__caption-container\">\n                              <a href=\"https:\/\/www.cbsnews.com\/video\/u-s-and-china-have-agreed-to-temporarily-reduce-tariffs-for-90-days-here-are-the-details\/\" class=\"embed__headline-link\" data-invalid-url-rewritten-http=\"\"><\/p>\n<p>          <span class=\"embed__icon\"><br \/>\n            <svg viewbox=\"0 0 32 32\" aria-hidden=\"true\">\n              <use xlink:href=\"#icon-video\"\/>\n            <\/svg><br \/>\n          <\/span><\/p>\n<p>          <span class=\"embed__headline\">U.S. and China have agreed to temporarily reduce tariffs for 90 days. Here are  the details.<\/span><\/p>\n<p>          <span class=\"embed__video-duration\">01:38<\/span><\/p>\n<p>                      <\/a><\/p>\n<\/figcaption><\/figure>\n<section class=\"content__body\">\n<p>News of a U.S. agreement with China to <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/us-china-tariffs-deal-90-days-trump-admin-trade-talks-progress\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">temporarily ease tariffs<\/a><\/span> sent stocks soaring on Monday, with the major indexes rising more than 2% in early trading.<\/p>\n<p>The S&amp;P 500 rose 157 points, or 2.8%, to 5,817 as of 10:17 EST, while the Dow Jones Industrial Average added 1,041 points or 2.5% to 42,291. The Nasdaq Composite gained 3.7%, indicating a sigh of relief from tech companies as the steep Chinese tariffs threatened to upend their supply chains <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/iphone-price-increase-china-tariffs\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">resulting in substantial price hikes for consumers<\/a><\/span>.<\/p>\n<p>In a joint statement released by The White House on Monday, the U.S. and China on Monday announced an\u00a0 that they would <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/us-china-tariffs-deal-90-days-trump-admin-trade-talks-progress\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">substantially lower tariffs<\/a><\/span> for 90 days. The agreement was struck over the weekend in Switzerland, where Treasury Secretary Scott Bessent and U.S. Trade Administrator Jamieson Greer\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/us-china-talks-tariffs\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">met with a Chinese trade delegation<\/a><\/span>.\u00a0<\/p>\n<p>Starting May 14, both countries will lower tariffs by 115%, according to the <a href=\"https:\/\/www.whitehouse.gov\/fact-sheets\/2025\/05\/fact-sheet-president-donald-j-trump-secures-a-historic-trade-win-for-the-united-states\/\" target=\"_blank\" rel=\"nofollow noopener\">White House<\/a>. That will bring the U.S. tariff on Chinese imports down to 30% from as high as 145%, and China&#8217;s rate on American goods down to 10% from 125%.\u00a0<\/p>\n<p>Tech stocks strengthened on news of a China-U.S. truce Monday, with Nvidia stock climbing 4% in early trading. Amazon, which <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/amazon-prices-rising-trump-tariffs-temu-shein\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">relies on imports from China<\/a><\/span>, was also up 7%. Over 70% of the products sold on Amazon are produced in China, according to <a href=\"https:\/\/www.statista.com\/chart\/33376\/share-of-items-sold-on-amazon-by-country-of-origin\/\" target=\"_blank\" rel=\"nofollow noopener\">survey<\/a> conducted by Jungle Scout.<\/p>\n<p>The announcement strengthened the value of the U.S. dollar, with the dollar index surging over 1% to 101.5 \u2014 the first time since April 9 it&#8217;s ticked back above 101.<\/p>\n<p class=\"content__meta--contributors\">\n      <em><\/p>\n<p>                      <span class=\"byline__author__text\">The Associated  Press<\/span><\/p>\n<p>        contributed to this report.<br \/>\n      <\/em>\n    <\/p>\n<p>    <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation \">\n<p><h3 class=\"component__title\">More from CBS News<\/h3>\n<\/p>\n<\/aside>\n<p>    <!-- tags --><\/p>\n<div class=\"content-author\">\n      <a href=\"https:\/\/www.cbsnews.com\/team\/mary-cunningham\/\" class=\"content-author__name\" data-invalid-url-rewritten-http=\"\">Mary  Cunningham<\/a><\/p>\n<div class=\"content-author__bio\">\n<div class=\"content-author__full-information\">\n<p class=\"content-author__text\">Mary Cunningham is a reporter for CBS MoneyWatch. Before joining the business and finance vertical, she worked at &#8220;60 Minutes,&#8221; CBSNews.com and CBS News 24\/7 as part of the CBS News Associate Program.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/stocks-up-china-tariffs-pause-agreement-may-12-2025\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S., China agree to temporarily ease tariffs U.S. and China have agreed to temporarily reduce tariffs for 90 days. Here<\/p>\n","protected":false},"author":1,"featured_media":25174,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[349,3683,3685,3684,799],"class_list":["post-25173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-watch","tag-china","tag-dow-jones","tag-nasdaq","tag-sampp-500","tag-tariffs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dow gains 1,000 points after U.S. and China agree to slash tariffs for 90 days - World News<\/title>\n<meta name=\"description\" content=\"Stocks soared Monday morning, with news of a U.S. - China tariff deal buoying investor confidence.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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