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U.S. stock indexes surged about 3 percent Monday after fears eased of a trade war with China. The two big trading partners reportedly are negotiating to improve U.S. access to Chinese markets.

" and that U.S. Treasury Secretary Steven Mnuchin is considering a trip to Beijing for talks.


The Dow Jones industrial average closed up 669 points, or nearly 2.8 percent, to 24,203. The S&P 500 index climbed 70 points, or 2.7 percent, and the Nasdaq gained 228 points, or 3.3 percent.


Last Thursday and Friday, the Dow lost more than a total of 

 amid increasing signs of a looming trade war between the two major trading partners.
The 

 citing people with knowledge of the matter, said: 



Stock indexes around the world fell last week as the Trump administration prepared to impose 

 in a bid to cut the U.S. trade deficit with China by $50 billion. 
"The tariffs on China are a response to long-standing complaints that Beijing unfairly requires U.S. companies to share their technology as a cost of doing business in that country," 

The Chinese government announced a list of retaliatory tariffs it would impose on about $3 billion worth of U.S. exports, in response to a separate set of U.S. tariffs on steel and aluminum imports. President Trump on Thursday signed a temporary exemption — until May 1 — from the steel and aluminum tariffs for Argentina, Australia, Brazil, South Korea, Canada, Mexico and the European Union.  

former U.S. Treasury Secretary Lawrence Summers said

 the U.S. should focus "on what is a major issue ... the forced transfer of valuable U.S. technologies to Chinese firms, and not concentrate on issues that are probably counterproductive for the American economy anyway, like steel." 
Tariffs on steel and aluminum could hurt 

Business and Economic News

Avie Schneider

Author

Major stock indexes were up about 2 percent Monday morning after The Wall Street Journal reported that the U.S. and China have "quietly started negotiating" to improve U.S. access to Chinese markets.

U.S. stock markets rebounds on report of trade talks with China

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