In a surprising turn of events, the Trump administration's aggressive tariff strategy against China has softened. Despite initial threats of punitive tariffs reaching 145%, recent negotiations have reduced U.

Stocks roared on Monday as investors' worst fears over an escalating trade war between the US and China eased. Truist co-CIO Keith Lerner described Monday's stock rally as the market reacting to a temporary truce between the two countries that was simply "better than expectations.

Oil is down… I think we’re in a good position to resolve [the war],” Trump said, suggesting that both Russia and Ukraine are seeking a peaceful settlement. “Nobody would be negotiating if I weren’t president,

Diplomats with the European Union are still waiting for in-depth negotiations to begin. And it's unclear how quickly a substantive agreement with China could be reached.

But they had their own message for Bessent: Speed Trump’s trade war along so we can figure out ... If the tariffs stay in place, the inevitable outcomes will be a depressed manufacturing sector ...