Apple stock soars on news of US-China tariff deal

Apple stock soars on news of US-China tariff deal

Apple stock soared almost 6% at market open today, following the announcement of an easement of US tariffs on China....

Summary: An American-Chinese agreement on the reduction of customs duties results in a significant increase in the value of luxury. French groups in the sector recorded significant increases: Kering (+5.7%), LVMH (+5.2%), Hermès (+2.8%). The agreement introduces a 90-day break and a 115% reduction in reciprocal customs duties. This announcement relieves a sector facing difficulties in its main markets. The recent decline in trade tensions betwee…

Trump takes aim at EU as stock markets rallied on the back of US China tariff deal

Global stock markets rallied yesterday as the US and China agreed to slash tariffs for 90 days in a major de-escalation of a trade war that threatened to plunge the world into recession, writes Hugo Duncan. In what Donald Trump described as "a total reset" in relations with Beijing, the US will cut extra import duties on Chinese goods from 145pc to 30pc. The levy on those going the other way will fall from 125pc to 10pc. The agreement between th…