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US-China Trade War Truce Sends Dow Up More Than 400 Points

The stock market is set to rally today following a temporary truce in the trade war between the United States and China.
Signaling optimism, Dow Jones Industrial Average futures were up 440 points, or 1.72 percent, to 25,979 at 9 a.m. ET on Monday. A number of fashion stocks — including Michael Kors Holdings Ltd., Nike Inc. and Steve Madden Ltd. — were also in the green.
Over the weekend at the G20 summit in Buenos Aires, Argentina, U.S. President Donald Trump and Chinese President Xi Jinping agreed to a 90-day ceasefire on further tariffs in order to continue talks aimed at a compromise between two of the world’s largest economies.
The Trump administration had previously threatened to raise levies from 10 percent to 25 percent on $200 billion worth of Chinese imports starting January 1.
“The relationship is very special — the relationship that I have with President Xi,” Trump remarked before the Saturday evening dinner. “I think that is going to be a very primary reason why we’ll probably end up with getting something that will be good for China and good for the United States.”
The footwear industry hailed the decision. Matt Priest, president and CEO of the Footwear Distributors & Retailers of America,

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Via:: https://footwearnews.com/2018/business/retail/stock-market-us-china-trade-war-truce-1202713289/