In a surprising move, the US Senate voted 51-47 to nullify Trump's controversial global tariffs, with four Republicans breaking ranks. This comes as Trump negotiates a deal in Asia and highlights growing tensions within the party.
Stocks surged to record highs as U.S. and China officials eased trade tensions, paving the way for a potential agreement. The S&P 500, Nasdaq, and Dow all closed at historic levels, fueled by gains in major tech stocks.
The recent US-China trade deal reportedly excludes e-commerce shipments from tariff exemptions, potentially impacting small businesses. Temu has halted shipments from China and is shifting focus to American warehouses.
Market analysts are hailing the new U.S.-China tariff agreement as a game changer, expecting significant benefits for investors. With tariffs dropping dramatically, stocks are poised for a rally, and global trade could see a positive shift.
