Stocks, the dollar, and oil are soaring after a 90-day pause in the U.S.-China trade fight was outlined by President Trump's negotiators.
The agreement includes the U.S. lowering tariffs on Chinese imports to 30% and China lowering duties on U.S. goods to 10% with no sector-specific tariffs included.
Both sides see futility in continuing with huge tariffs to avoid disrupting global supply chains and causing price increases, leading to a semblance of agreement.
Uncertainty from the trade tensions has hindered corporate investment and hiring, affecting interest rate decisions by the Fed as they monitor inflation and the labor market.