Stocks surge after U.S. and China agree to 90 day tariff reduction, Apple up over 6%

Quick Summary:

Markets soared on the news, though exact details still have to be ironed out.

Dexter Roberts, nonresident Senior Fellow at the Atlantic Council, argued to Fortune that China will likely use the key resources, which are used in everything from smartphones to missiles, as a negotiating chip.

Treasury Secretary Scott Bessent hailed the agreement, describing it to reporters on Monday as "substantial progress" between the two countries.

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Article Details

Author / Journalist: Leo Schwartz

Category: EconomyBusiness

Markets: United StatesChina

Topics: Scott Bessent Markets Tariffs Donald Trump

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-12 @ 20:11:12 (23 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 530 words

Reading Time: 3 minutes read

Sentences: 4 lines

Sentence Length: 133 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28633680

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About Fortune

Main Topics: EconomyBusiness

Official Website: fortune.com

Update Frequency: 28 posts per day

Year Established: 1929

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #95

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