US-China Trade Deal Possible, Stocks Surge
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US Treasury Secretary Scott Bessent hinted at a potential major trade deal with China, stating a willingness to negotiate and rebalance the economy together. This announcement followed President Trump's statement that tariffs on Chinese goods would decrease substantially, leading to a significant rally in US stocks. The Dow Jones surged 1.4%, the S&P 500 climbed 1.8%, and the Nasdaq rose 2.3%. Tesla shares also saw a significant increase following CEO Elon Musk's announcement of reduced government work. These positive market shifts followed recent tariff increases by both the US and China.
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