Dow futures jump nearly 1,000 points as U.S.-China agree to cut tariffs: Live updates

CNBC ^ | 5/12/25 | Yun Li | Fred Imbert

[hardspunned]

U.S. stock futures jumped early Monday after the U.S. and China agreed to temporarily slash tariffs following negotiations over the weekend in Switzerland.

Nasdaq futures pointed to a 3.6% gain, with the S&P 500 futures higher by 2.8% and Dow up by nearly 1,000 points, or 2.3%. U.S. Treasury Secretary Scott Bessent said on Monday that talks with China had been "very productive" and both countries had agreed to cut "recipricol" tariffs by 115% for 90 days. That brings U.S. tariffs on Chinese goods down to 30%, and Chinese tariffs on U.S. imports to 10%.

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TOPICS: Business/Economy
KEYWORDS: untariffed

[MotorCityBuck]

Got in at the bottom @ 37,500.
To quote Flounder... “This is gonna ne Great!”
Trump U.S.A. :)

[abb]

unexpected...

[millenial4freedom]

I’m sorry to be a Debbie-Downer, but doesn’t this kind of sound like we’re caving to China a bit? How much onshoring can we expect now if this is the final rate?

[ArcadeQuarters]

Advanced Money Destroyer up 7% pre-market. Might need a new nickname for it.

[dangus]

Yeah, this sure as Hell sounds like a cave to me. Bad news. Baaaad, bad news.

[dangus]

Wait.... US tariffs on Chinese goods to 30%, Chinese tariffs on US goods to 10%. And no mention of re-establishing the Temu-Shein rule that allowed imports of less than 800$ without tariffs.

[wny]

the bag-holders rush in at the top....

[Nervous Tick]

>> Advanced Money Destroyer

Laughing out loud (through the tears of remembrance)

[DAC21]

“I’m sorry to be a Debbie-Downer, but doesn’t this kind of sound like we’re caving to China a bit? How much onshoring can we expect now if this is the final rate?”

I never expected China to onshore any manufacturing regardless of rates. I don’t know that we need to make there cheap choke hazard plastic kiddie toys here. They don’t sell cars here and hopefully we never allow them to.

Meaningfull gains will come from (hopefully) Japan, Korea, Europe, and Mexico with increased auto production, Pharma. and other industries.

Some automobile manufacturing increases have already been announced. Stallantis is reopening a closed Il. plant. Hyundai is increasing USA production by 75% at their Georgia Plant. Honda is moving Civic production from Mexico to the USA. Hopefully more to come.

[Ex-Con777]

It’s a cave if you thought Trump’s opening gambit was supposed to be the final outcome. It was meant to pry open the negotiations.

China had us over a barrel with their tariffs and unfair trade practices. To level the playing field is not a cave.

EC

[Dan in Wichita]

I’m sorry to be a Debbie-Downer, but doesn’t this kind of sound like we’re caving to China a bit?

If this is true, why are the Dow Futures up 1000+ points? The S&P 500 and Nasdaq are up even higher this morning in percentages.

[trebb]

It’s called, “The Art of the Deal”...

[Vermont Lt]

30% on how many trillions of dollars?

That’s is a lot more than we are getting today.

In a negotiation you do to want to “kill” the other party. You just want to squeeze out what you can without killing them.

[FlingWingFlyer]

This should cause some Woodstock hippy geezers’ heads to explode. Bolshies don’t like this kind of news. I’ll bet they busted out tons of Crayolas and poster board to start making their signs.

[bert]

A 30% tariff on Chinese goods is a regressive tax on the poor.

‘Bout time the poor pay their fair share

[woodbutcher1963]

Many of those Chinese goods are made there and India and other Third world countries because they are TOXIC. They have no EPA monitoring them. We do not want to make things out of toxic chemicals and compounds in Cleveland anymore.
We don’t want the river to catch on fire(like it did once).

We also don’t want the Mercury level in Lake Ontario so high that “pregnant women should not consume more than one serving of fish from Lake Ontario weekly”. I used to hear that add on the radio growing up in WNY.

We also don’t want a chlorine gas leak like they had in Bopol, India back in the 1980s that killed 1000 people.

We also don’t want our children and pregnant women exposed to Cobalt dust like they are in villages in the Congo where they dig that toxic material out of the Earth. We actually prefer our children to be born with all their limbs.

So, let China and other SH#T hole countries continue to manufacture dangerous materials that we literally don’t want Not In My Back Yard.

[abb]

https://www.wsj.com/economy/trade/surprise-u-s-china-trade-deal-gives-global-economy-a-big-reprieve-b486da7b?mod=WSJ_home_supertoppermiddle_pos_3

Surprise. Their word

[millenial4freedom]

Financial markets also soared the first few days after Biden's inauguration in 2021...they move based on two things: likelihood of cheap money/fiscal stimulus and certainty.

Both Biden and Trump have done things that encourage and discourage Wall Street in the past as they relate to the above.

I'm just weary of playing nice with China at this point, but Trump and Bessent know more behind the scene than I do, so I will keep the faith.

[Salman]

Art of the deal?