The Trump administration says it intends to develop a 'mechanism' that will 'rebalance' the U.S. trade relationship with China — a task that has eluded presidents for decades.

Shares of technology companies rallied after a truce in the trade war alleviated fears of rising costs and shrinking markets. Shares of Apple, which counts China as both a manufacturing partner and major growth market, rose by more than 5%. Amazon.com, whose budget offerings are often Chinese imports, rose by roughly 8%.

US stocks surge today after a U.S.-China tariff truce. Dow, S&P500, and Nasdaq rally sharply with Apple, Caterpillar, and Chevron leading the rebound.

Shares have logged modest gains in most world markets as the initial euphoria over the 90-day truce in the trade war between the United States and China fades

NEW YORK (AP) — U.S. stocks are leaping Monday after China and the United States announced a 90-day truce in their trade war. They agreed to take down most of their tariffs that economists warned could start a recession and create shortages on U.S. store shelves.