APShares of many companies that source at least some of their goods from China are surging on Monday as US and Chinese officials announced that they had reached a deal to roll back most of their recent tariffs and called a 90-day truce in their trade war to allow for more talks on resolving their trade disputes.
US Trade Representative Jamieson Greer said the US agreed to drop its 145% tariff rate on Chinese goods by 115 percentage points to 30%, while China agreed to lower its rate on US goods by the same amount to 10%.
There's still big challenges remaining in the negotiations between China and the United States, but the mood nevertheless was ebullient across Wall Street on Monday, and gains were widespread.
Here's a look at some of the sectors impacted by the U.S.-China tariff announcement.
Footwear and Athletic Gear Many of these companies have some of their production in China and elsewhere in Asia. About 97% of the clothes and shoes purchased in the US are imported, predominantly from Asia, the American Apparel & Footwear Association said last month, citing its most recent data.
Nike, up 6.7%
Foot Locker, up 10.1%
Dick's Sporting Goods, up 11.4%
Under Armour, up 6.9%
Apparel Companies Similar to footwear companies, many clothing companies make at least some of their items in China and other parts of Asia. In March companies like Abercrombie & Fitch began to caution about their full-year sales potential as American shoppers began to pull back on their spending.
Lululemon Athletica, up 7.7%
Gap, up 7.7%
Ralph Lauren, up 5.2%
Abercrombie & Fitch, up 5.8%
Retail Retailers that sell a variety of goods are feeling some market relief because the announced trade deal means these companies won't have to pass on high costs caused by tariffs to their own customers.
Before the agreement was announced, many consumers were fearful of the potential additional costs. Amazon even came out and said that it was not planning to display added tariff costs next to product prices on its site. And Target cautioned in March that there would be "meaningful pressure" on its profits to start the year because of tariffs on Mexico, Canada and China and other costs.
Best Buy, up 5.7%
Amazon, up 7.2%
Target, up 2.9%
Travel Companies Shares of travel companies are climbing on hopes that lower tariffs will encourage more customers to fly and feel comfortable enough to spend on trips. Prior to the U.S.-China tariff announcement, major US airlines were reducing their flight schedules and revising or withdrawing their profit outlooks for the year due to less domestic travel demand as sentiment about the national and global economies soured.
Carnival, up 8.3%
Norwegian Cruise Line, up 6.6%
Royal Caribbean Cruises, up 3.4%
American Airlines Group, up 5.4%
Delta Air Lines, up 6%
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There's still big challenges remaining in the negotiations between China and the United States, but the mood nevertheless was ebullient across Wall Street on Monday, and gains were widespread.
Here's a look at some of the sectors impacted by the U.S.-China tariff announcement.
Footwear and Athletic Gear Many of these companies have some of their production in China and elsewhere in Asia. About 97% of the clothes and shoes purchased in the US are imported, predominantly from Asia, the American Apparel & Footwear Association said last month, citing its most recent data.
Nike, up 6.7%
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Foot Locker, up 10.1%
Dick's Sporting Goods, up 11.4%
Under Armour, up 6.9%
Apparel Companies Similar to footwear companies, many clothing companies make at least some of their items in China and other parts of Asia. In March companies like Abercrombie & Fitch began to caution about their full-year sales potential as American shoppers began to pull back on their spending.
Lululemon Athletica, up 7.7%
Gap, up 7.7%
Ralph Lauren, up 5.2%
Abercrombie & Fitch, up 5.8%
Retail Retailers that sell a variety of goods are feeling some market relief because the announced trade deal means these companies won't have to pass on high costs caused by tariffs to their own customers.
Before the agreement was announced, many consumers were fearful of the potential additional costs. Amazon even came out and said that it was not planning to display added tariff costs next to product prices on its site. And Target cautioned in March that there would be "meaningful pressure" on its profits to start the year because of tariffs on Mexico, Canada and China and other costs.
Best Buy, up 5.7%
Amazon, up 7.2%
Target, up 2.9%
Travel Companies Shares of travel companies are climbing on hopes that lower tariffs will encourage more customers to fly and feel comfortable enough to spend on trips. Prior to the U.S.-China tariff announcement, major US airlines were reducing their flight schedules and revising or withdrawing their profit outlooks for the year due to less domestic travel demand as sentiment about the national and global economies soured.
Carnival, up 8.3%
Norwegian Cruise Line, up 6.6%
Royal Caribbean Cruises, up 3.4%
American Airlines Group, up 5.4%
Delta Air Lines, up 6%
