Today, China and the United States announced that they will cancel a total of 91% of the additional tariffs and suspend the implementation of 24% of the counter-tariffs.Affected by this news, the three major U.S. stock indexes opened sharply higher tonight, with the Nasdaq rising 4.16%, the Dow rising 2.59%, and the S&P 500 rising 2.9%.
The seven major U.S. technology stocks opened sharply higher. Amazon rose by more than 8%, Tesla rose by more than 6%, Apple rose by more than 5%, Meta rose by more than 6%, Nvidia rose by more than 4%, Google rose by more than 3%, and Microsoft rose by more than 1%.
It is reported that previous tariff policies have caused heavy losses in the market value of the seven major technology stocks. As of April 23, the exact amount of losses was US$3.0627 billion.
Today, China and the United States issued the "Joint Statement on the China-US Geneva Economic and Trade Talks" to give companies a chance to breathe.
According to the announcement, the two parties reached a number of positive consensuses in the joint statement.
Both sides recognize the importance of bilateral economic and trade relations to the two countries and the global economy, recognize the importance of sustainable, long-term, and mutually beneficial bilateral economic and trade relations, and continue to advance relevant work in the spirit of mutual openness, continuous communication, cooperation and mutual respect.
This move is in line with the expectations of producers and consumers in both countries, as well as in the interests of both countries and the common interests of the world.
