Stocks soar after U.S. and China agree to temporarily slash tariffs

Stocks soared — and businesses breathed a sigh of relief — as the U.S. and China agreed to temporarily slash their triple-digit tariffs.

May 12, 2025 - 15:52
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Stocks soar after U.S. and China agree to temporarily slash tariffs
Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell on May 8, 2025, in New York City. Stocks surged on Monday after China and the U.S. clinched a temporary deal on tariffs.

Stocks soared — and businesses breathed a sigh of relief — as the U.S. and China agreed to temporarily slash their triple-digit tariffs.

(Image credit: Timothy A. Clary)