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LIVE: Markets react after U.S.-China agree to cut tariffs
Posted
May 12, 2025
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May 12, 2025
197,317
1,076
62
0.58%
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6:48:46Now PlayingWatch the U.S. markets board after the U.S. and China agreed to temporarily slash tariffs following negotiations over the weekend in Switzerland. U.S. Treasury Secretary Scott Bessent said on Monday that talks with China had been “very productive” and both countries had agreed to cut “reciprocal” tariffs by 115% for 90 days. That brings U.S. tariffs on Chinese goods down to 30%, and Chinese tariffs on U.S. imports to 10%. Bessent told “Morning Joe” on Monday that he expects to meet once again with representatives from Beijing in the “next few weeks" to discuss tariffs, non-tariff trade barriers, currency, subsidies of labor and capital. All three major averages are coming off their first losing week in three. The S&P 500 and Nasdaq Composite shed 0.5% and 0.3%, respectively. The Dow slipped 0.2% last week.
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LIVE: Markets react after U.S.-China agree to cut tariffs
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