According to the announced deal, the U.S. will lower Trump's reciprocal tariffs on goods coming in from China from 145 percent to 30 percent. China will also lower its tariff on U.S. exports to the country from 125 percent to 10 percent. Each side has basically knocked their tariffs down by 115 percent.

The U.S. and China agreed to lower tariffs for 90 days. The details: U.S. tariffs on Chinese goods will fall to 30 percent from 145 percent. Meanwhile, China’s blanket tariffs on U.S. products will drop to 10 percent from 125 percent. A few tariffs will remain. President Donald Trump signed an order to lower prescription drug prices.

Investors eye more trade deals, updates from President Trump’s trip to the Middle East and fresh consumer inflation data after U.S. stocks soared Monday as investors celebrated major progress on U.S.-China trade talks.

President Donald Trump is expected on Monday to embark on an official visit to the Middle East, a major international trip during which he and his diplomats will continue pushing for peace between Russia and Ukraine and in the Gaza Strip.

The Dow Jones surged on the stock market today. Treasury Secretary Bessent spoke out on China amid tariff progress. Alibaba cleared an entry.