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The temporary reprieve will slash the U.S. tariff on Chinese goods from 145 percent to 30 percent.
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With the prospect of more favorable tariff terms between the two key trading partners, investors are betting that increased economic activity will boost financial activity.
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U.S. stocks are leaping Monday after China and the United States announced a 90-day truce in their trade war. Each of the world's two largest economies agreed to take down temporarily most of its tariffs against the other, which economists had warned could start a recession and create shortages on U.S. store shelves.
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Stocks soared — and businesses breathed a sigh of relief — as the U.S. and China agreed to temporarily slash their triple-digit tariffs.
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Trump to sign order to cut some U.S. drug prices to match those abroad CNBCTrump Live Updates: China Tariff Pause, Drug Prices and More The New York TimesTrump drug price order puts new pressure on pharma AxiosPharmaceutical Stocks Tumble on Trump Plan to Cut US Drug Prices Yahoo FinanceTrump executive
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The consumer discretionary sector is particularly sensitive to soft consumer demand and tariff-fueled macroeconomic uncertainty.
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