The U.S. and China have finally agreed to a temporary – but significant easing of tariffs.
In fact, according to U.S. Treasury Secretary Scott Bessent, U.S. tariffs on China will drop 115 percentage points to 30%. China’s levies on U.S. imports will drop to 10%.
More information on specifics can be found in the Joint Statement on U.S. China Economic and Trade Meeting in Geneva at WhiteHouse.gov.
As a result of the agreement, the Dow Jones is up about 1,050 points. The NASDAQ is up 663, as the S&P 500 adds 156 points. Even better, it’s boosting the Magnificent 7 stocks.
Apple (NASDAQ: AAPL) is up 5.6%, or $11.25.
Microsoft (NASDAQ: MSFT) is up 1%, or by $4.80.
Alphabet (NASDAQ: GOOG) is up about 3%, or by $4.71.
com (NASDAQ: AMZN) is up 7.4% or by $14.55.
Nvidia (NASDAQ: NVDA) is up 4%, or by $4.80.
Meta Platforms (NASDAQ: META) I up 6.5%, or by $38.73.
Tesla (NASDAQ: TSLA) is up 7%, or by $21.23.
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