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US Stocks Soar After Announcement of New Trade Talks With China

VOA News

   U.S. markets soared Thursday on news the United States and China have
   agreed to hold new trade talks.
   The Dow Jonesindustrialaverage climbed 372 points. TheStandard &
   Poor's500Indexwas also up more than 1 percent,while the Nasdaq
   compositerose nearly 2 percent.
   New tariffs on U.S. and Chinese imports and uncertaintyabout
   whetherthere would be another high-level meeting have rattled
   investors' nerves in recent months.
   China announced early Thursday that Washington wouldhost new
   senior-level talks in early October.
   Beijing's commerce ministry said Vice Premier Liu He, U.S. Trade
   Representative RobertLighthizerand Treasury Secretary Steven Mnuchin
   agreed to the meeting during a phone call.
   The trade representative's office did not give a date, sayingonly
   thatthere wouldbe a meeting in "the coming weeks."
   Both sides will hold deputy-level talks this month, which China said
   would"lay the groundwork for meaningful progress." There have been no
   top-level talks between the U.S. and ChinasinceJuly.
   In the meantime, both sides continued their tit-for-tat trade war this
   week.
   President Donald Trump imposed 15% tariffs on about $112 billion worth
   of Chinese goods this past Sunday, meaning U.S. shoppers can look for
   higher prices on some foods, sports equipment, sportswear, musical
   instruments and furniture.
   China has countered with tariffs as high as 10% on U.S. goods including
   corn, pork, marble and bicycle tires.

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