Wall Street Rallies After Trump Says He Is ‘Open to Talks’ With China on Tariff Deal

Another day, another wild trading session, with all three major stock indexes jumping more than 1.50% on Friday. The strong close to a whiplash-inducing week comes after a few more twists in the ongoing U.S.-China tariff battle, with White House Press Secretary Karoline Leavitt saying the Trump Administration was “open to talks” with China on trade deals.

Leavitt’s comment came hours after China increased its tariff on American goods to 125% on Friday — a move that followed President Trump raising the tariff on Chinese imports from 104% to 125% to 145% this week.

“We are doing really well on our TARIFF POLICY,” the president posted soon after the markets opened on Friday. “Very exciting for America, and the World!!! It is moving along quickly. DJT.”

The S&P 500 increased 1.81%, the Dow Jones climbed 1.56% and the Nasdaq jumped 2.06% on Friday. All three indexes are up more than 6% compared to where they started off on Monday, following brutal back-to-back days at close last week.

Here is a look at how several prominent media and tech stocks performed:

Meta: -0.50%
Google: +2.59%
Fox Corp.: -1.27%
News Corp.: +2.34%
Amazon: +2.01%
Disney: -0.39%
Comcast: +0.12%
WBD: -1.60%
Netflix: -0.31%
Roku: +1.60%
Snap Inc.: +1.66

Apple’s stock price, meanwhile, was up 4.06% to $198.15 per share. The world’s most valuable company had at one point this week seen $1 trillion shaved from its market cap following the president’s announcement of his “liberation day” tariffs on Apr. 2, but the company has climbed back in recent days. The company, led by CEO Tim Cook, is now down about $550 billion from where it was before the tariff plan, closing the week with a valuation of $3 trillion.

Investors have been spooked because Apple assembles iPhones and a number of other products in China; the company recently flew in planes full of devices to avoid being hit by the new tariff on Chinese imports.

Friday’s trading action was a fitting close to a rollercoaster week for the markets. Wall Street took a big hit on Thursday, one day after a historic rally on Wednesday, following President Trump’s announcement he was pausing his reciprocal tariff plan for 90 days on most countries so that deals could be made.

Another important development on Friday was the Federal Reserve being “absolutely” ready to step in to help stabilize skittish markets, if necessary.

The president and his team of financial advisors have said a stiff tariff on China is warranted, considering the country’s communist government rips off American businesses and their IP. President Trump has also said it is not great that a foreign adversary produces so many of the goods that are shipped into the States.

“Hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other countries, is no longer sustainable or acceptable,” Trump said on Wednesday.

The U.S.-China trade standoff has caused a ripple effect that has been felt across virtually every industry, including Hollywood. The China Film Administration on Thursday said it would “moderately reduce” the number of American films it shows moving forward.

When it comes to how this will shake out, one Disney executive told TheWrap “We’re not panicking. We are waiting and seeing.”

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