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Wall Street rallies on temporary trade truce

Reuters 

By Shreyashi Sanyal(Reuters) - U.S. stocks rose on Monday, boosted by gains in trade-sensitive industrial and technology stocks after the United States and China agreed upon a temporary trade detente.Washington and Beijing agreed to a 90-day trade ceasefire during the G20 summit in Argentina on Saturday and U.S. President Donald Trump said China has agreed to "reduce and remove" tariffs below the 40 percent level that the country is currently charging on U.S.-made vehicles.However, the White House also said that the existing 10 percent tariffs on $200 billion worth of Chinese goods would be ...

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First Published: Mon, December 03 2018. 21:01 IST
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