US stocks surged to close near the highs of the session on Monday after a US-China deal to temporarily slash reciprocal tariffs offered relief to markets worried about a trade war. Wall Street notched a banner day after the US and China put tariffs on pause for 90 days,

Key Takeaways Stocks were buoyant on Monday after White House officials said the U.S. and China had agreed to scale back tariffs for 90 days as negotiators work on a long-term deal.The reprieve exceeded Wall Street's expectations and reassured some investors that President Trump's steepest tariffs are more a negotiating tactic than a permanent

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.