Ready to launch your business? Get started with the commerce platform made for entrepreneurs.

Shopify is specially designed to help you start, run and grow your business with easy customizable themes that let you build your brand,

marketing tools that get your products out there. Integrated shipping solutions that actually save you time.

From startups to scaleups, online, in person, and on the go. Shopify is made for

entrepreneurs like you. Sign up for your $1 a month trial at Shopify.com slash setup.

I'm Taylor Riggs, and this is the Fox Business Rundown.

Monday, May 12, 2025. The United States and China have agreed to slash the majority of their tariffs on each other for 90 days, as the two nations plan to continue talks on a broader trade deal.

News of this tariff truce broke early in the morning on Monday,

sending global markets soaring.

I think the market's been telling you that basically these deals were going to get done.

We are going to get some resolution, and business is going to move forward.

And that's why we've had such a nice rebound in the market, not only today on Monday, but really over the course the last couple weeks. After weeks of media speculation and

assurances of progress being made by the White House, the Trump administration in China announced

that they would be de-escalating the trade war tensions. China will cut their tariffs on America

from 125% to just 10%, while the U.S.

has agreed to cut tariffs on China to 30% down from 145%. Treasury Secretary Scott Bessens recently

teased that an agreement with China was close at hand. In fact, there was a heavy emphasis

placed on this past weekend where Secretary Bessent joined U.S. trade representative Jameson

Greer in Switzerland for crucial trade talks with Chinese counterparts. It was there in Geneva

that they ironed out the first steps of this trade breakthrough, which have

sent global markets jumping. From Europe to Asia and certainly within the U.S., investors eagerly

ran to the markets with their money to get in on this apparent market surge. This morning,

...