U.S., China agree to substantially lower tariffs.
The U.S. and China have agreed to a 90-day pause to soaring tariffs placed on each other and will each lower reciprocal levies, according to U.S. Treasury Secretary Scott Bessent.
Washington has moved to slash tariffs on China to 30% and Beijing’s duties on U.S. imports are being cut to 10%, the countries announced following high-stakes trade talks over the weekend.
More trade negotiations are planned between the two.
U.S. stock futures surged on Monday.
European stocks soar.
European equity indices traded firmly higher Monday, buoyed by positive noise emerging from the trade talks between China and the U.S. over the weekend, raising hopes that a prolonged trade war between the two largest economies in the world can be avoided.
At 03:02 ET (07:02 GMT), the DAX index in Germany climbed 1.8%, the CAC 40 in France gained 1.3% and the FTSE 100 in the U.K. rose 1%.
China/U.S. trade deal boosts sentiment
The White House on Sunday announced that a trade deal with China had been reached, after U.S. officials spent the weekend negotiating with their Chinese counterparts.
Chinese officials also flagged welcome progress in the talks and said that they will make a joint announcement with the U.S. later on Monday.
A potential deal would mark a major deescalation in a bitter trade war between the world’s biggest economies, after they slapped trade tariffs of over 100% on each other in April.
Few details of this agreement have been announced, and it was notable that neither team mentioned actual tariff levels at all over the weekend. That said, that the weekend passed without heated words at least suggests some progress.
The economic data slate is largely empty in Europe Monday, but the week sees growth data for the first quarter in the eurozone as a whole as well as inflation data for the key European countries
Bitcoin price today: steady near $104k.
Bitcoin traded flat near a three-month high on Monday, underpinned by easing trade tensions after the U.S. touted a deal with China, while investors awaited further details on the agreement expected later in the day.
The world’s largest cryptocurrency was largely unchanged at $103,863.5 by 02:19 ET (06:19 GMT).
The token surged more than 9% last week, as it blew past the coveted $100k level on Thursday, reaching its highest level since late-January 2025.
Last week’s surge was largely driven by the U.S.-UK trade framework deal and hopes of China talks.
Investors were also cautiously awaiting the U.S. consumer price index (CPI) figures, due on Tuesday.
Bitcoin firm as markets await US-China trade deal details
Sentiment in broader risk assets, including cryptocurrencies, was buoyed after Washington and Beijing announced that a trade agreement had been reached over theweekend.
While specific terms have yet to be disclosed, remarks from both sides — including U.S. Treasury Secretary Scott Bessent calling the talks “substantial” and Chinese officials citing “important consensus” — offered enough optimism to keep Bitcoin elevated.
However, traders remained cautious as they awaited concrete details of the deal, which could determine the sustainability of recent gains.
Markets also digested President Donald Trump’s plan to sign an executive order slashing U.S. drug prices by up to 80%, raising concerns over global pharmaceutical pricing and broader deflationary pressures.
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