Markets rise as US and China agree to slash tariffs
May 13, 2025
Washington [US], May 13: US President Donald Trump says they have achieved a "total reset" in relations with China after both countries agreed to reduce tariffs on each other's goods for 90 days.
Trump s expects to meet with Chinese President Xi Jinping soon,
He told reporters at the White House that he doesn't think tariffs on the country will reach the same heights as before.
US markets have surged after the deal between Washington and Beijing, a major de-escalation in their trade war.
Markets in the US are now trading at similar levels to the beginning of the year, marking a significant recovery since Trump announced his "Liberation Day" tariffs in April.
Source: Fijian Broadcasting Cooperation
