Wall Street’s main indexes were set to open sharply higher on Monday as the United States and China reached a deal to reduce tariffs, signaling a truce in a punishing trade war that had kept markets on edge for weeks. The U.S. will cut extra tariffs it imposed on Chinese imports in April this year to 30% from 145% and Chinese duties on U.S. imports will fall to 10% from 125%, the two countries said on Monday. The new measures are effective for 90 days.
President Donald Trump will visit the Middle East from May 13 to 16, with scheduled stops in Saudi Arabia, Qatar, and the United Arab Emirates. The trip marks his first major foreign trip of his second term, following a recent visit to the Vatican for Pope Francis’s funeral two weeks ago. Trump is expected to announce a series of major investment deals aimed at attracting Gulf money into key U.S. sectors such as defense, technology, and artificial intelligence (AI). His meetings will also focus on pressing regional issues, including the war between Israel and the Hamas terrorist group and ongoing nuclear talks with Iran….