The market is flashing a "rare and bullish" signal that could indicate even more gains ahead, according to Ryan Detrick, chief market strategist for the Carson Group.
The 90-day pause begins on Wednesday. This means President Trump's 145% tariffs on Chinese imports will be slashed to 30%, while Beijing will reduce its levies from 125% to 10%.
There is a growing consensus amongst trade specialists that ultimate resting point for U.S. tariffs will be a global tariff of 10%, and slightly higher for China.
We should all be relieved that there’s been a 90 day pause in the tariffs on Chinese imports, but since they’re on tap in 90 days, and at unknown levels, don’t be surprised that uncertainty remains high.
