Reported about 7 hours ago
In a surprising move to ease trade tensions, the US and China have agreed to significantly reduce tariffs on each other's imports for an initial 90-day period. The US will cut its tariff on Chinese imports from 145% to 30%, while China's tariff on US goods will decrease from 125% to 10%. This de-escalation has resulted in a spike in global stock markets and a strengthening of the dollar.
Source: YAHOO