May 12, 2025, 08:11 British Summer Time

Stock markets rose on Monday after President Trump stated that weekend negotiations led to a "complete reset" of trade terms between the U.S. and China, somewhat easing the standoff between the two countries related to high tariffs.

Negotiations in Switzerland resulted in a significant reduction of mutual tariffs that had been accumulating since January from both sides.

The U.S. will lower these tariffs from 145% to 30%, while China's corresponding tariffs on U.S. goods will decrease from 125% to 10.