[ad_1]
WASHINGTON (Reuters) – Wall Street closed higher Tuesday after the Trump administration announced a 10% ($ 300 billion) delay in import duties on some Chinese products, pushing investors to buy back shares.
The Dow Jones Industrial Average ended last month at 307.78 points, or 1.19%, at 26215.15, while the Standard & Poor's 500 index rose 42.57 points, or 1.48%, to close at 2,926.32.
The Nasdaq Composite Index gained 152.95 points, or 1.95%, at 8,016.36.
Earlier on Tuesday, US President Donald Trump said his administration had decided to defer tariffs on some Chinese imports until mid-December in order to avoid harming US buyers before Christmas, between other reasons.
"We are doing it for the Christmas season," he told reporters, noting that the goal of this decision was to help many people.
In telephone conversations between the United States and China on trade negotiations, Trump said: "The discussions were very fruitful and very positive, and he is optimistic about it."
Speaking on Tuesday, the US president highlighted rising financial markets on Tuesday for a number of reasons, including deferring tariffs on Chinese products.
The US Trade Representative's office said on Tuesday that the Trump administration would delay tariffs on some Chinese products, including laptops and mobile phones, by 10 percent, which should begin next month.
[ad_2]
Source link
