Global markets surged after the US and China agreed to cut tariffs for 90 days.US futures jumped ahead of Monday's open on Wall Street.Treasury Secretary Scott Bessent said discussions with China over the weekend were "robust.

The United States and China said on Monday they have agreed a deal to slash reciprocal tariffs as Washington and Beijing seek to end a trade war that has disrupted the global economy and set financial markets on edge.

12 May: The US and China announce a 90-day pause on "reciprocal" tariffs starting 14 May after holding trade talks in Switzerland. It will bring US tariffs on Chinese imports down from 145% to 30%, and Chinese tariffs on US goods will fall from 125% to 10%