Stocks rose at the open on Wall Street on Friday after President Trump suggested cutting US tariffs on Chinese imports. His comment fueled further optimism that the trade war is easing ahead of talks between Treasury Secretary Scott Bessent’s team and Chinese officials in Switzerland this weekend.
The Dow Jones Industrial Average (^DJI) edged up 0.2%. The S&P 500 (^GSPC) rose 0.4%, while the Nasdaq Composite (IXIC) gained about 0.5%.
In a social media post on Friday morning, Trump suggested an 80% tariff rate for Chinese imports.
Markets are attempting a third straight day of gains after the US unveiled a trade deal with the UK on Thursday. President Trump said more agreements with US trading partners are coming, along with a tax bill making its way through Congress.
“You better go out and buy stock now,” Trump said during Thursday’s press conference.