Hong Kong's benchmark Hang Seng Index closed 3% higher after both the U.S. and China chose to de-escalate a budding trade war.

The president said reducing tariffs to 80 percent from the current 145 percent “sounds right,” as U.S. and Chinese negotiators prepare to meet in Switzerland.

President Donald Trump says “great progress” was being made in ongoing U.S.-China talks over tariffs menacing the global economy, and even suggested a “total reset" was on the table as tariff negotiations are set to continue Sunday in Switzerland.

The Trump administration's tariff policy has reshaped international trade dynamics, imposing significant import taxes on a wide range of countries and products. This approach has led to a substantial increase in the average effective tariff rate,

Challenges to President Trump's use of emergency power to impose sweeping tariffs cite legal doctrines that have been embraced by the conservative Supreme Court justices.

The way President Donald Trump sees it, beating China in a trade war should be easy. After all, the Chinese sell Americans three times as much stuff as Americans sell them.

The stock market surged higher on Monday after President Donald Trump released details surrounding progress on U.S.-China trade talks.Over the weekend, U.S. Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer,

In a new social media post, the president calls the meeting a "total reset" between the two countries without providing further details.