Welcome to the News Hour. There's been a big breakthrough in the battle over tariffs.

The United States and China have paused many of their most punishing tariffs for the time being while they try to reach a larger deal.

It's a major thaw in the trade war between the world's two biggest economies and the news brought euphoria to the stock market.

The Dow Jones Industrial average skyrocketed by more than 1,100 points.

The NASDAQ shot up by more than 4 percent, and the S&P 500 rose by more than 3 percent.

All of this set the stage for a big day of news from President Trump as he began the first major foreign trip of his second term.

Lisa Desjardin starts our coverage.

The closing bell rang with good news today on the New York Stock Exchange

as the U.S. and China are lowering the temperature on tariffs, at least for now,

announcing a three-month pause in their trade war, buying time to reach a broader

deal. President Trump today called it a total reset. The relationship is very good. We're not looking

to hurt China. China was being hurt very badly. In fact, the tariffs have hurt both countries,

contributing to a record U.S. trade deficit and market turmoil.

Now come temporary tariff reductions that are deeper than investors predicted. The U.S. will

deflate Trump's recent 145 percent tariffs on Chinese goods to 30 percent, while China will go

from 125 percent on American products to 10%.

After weekend high-stakes talks with the Chinese in Switzerland, Treasury Secretary Scott

Bessent said both nations want a strong relationship.

The consensus from both delegations this weekend is neither side wants a decoupling. We do want trade,

we want more balanced trade, and I think that both sides are committed to achieving that.

In a separate press conference, Chinese officials stressed their national interests.

China has always pursued win-win outcomes in its trade and economic negotiations,

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