Name: Markets rebound after Trump softens tone on China tariffs
Uploaded: 2025-10-14T00:21:44.871Z
Duration: 2 min 36 s
Description: The U.S. stock market rebounded on Monday (October 13) after President Trump appeared to walk back imposing new tariffs on Chinese goods.

The U.S. stock market rebounded on Monday (October 13) after President Trump appeared to walk back imposing new tariffs on Chinese goods.

Washington

U.S. stock markets saw a rebound after President Trump appeared to soften his position on imposing new tariffs on Chinese imports. This followed a previous market decline when Trump had threatened to introduce 100 percent tariffs, prompting China to warn of new port fees on U.S. ships. In a social media post, Trump suggested that the situation with China would be resolved, though negotiations remain ongoing and tensions persist.

Officials from both countries are continuing talks, with staff-level meetings scheduled in Washington, D.C., and a planned discussion between President Trump and President Xi Jinping at an upcoming international summit. Despite the recent market recovery, analysts anticipate continued volatility as the details of any trade agreement are still being negotiated.

Markets rebound after Trump softens tone on China tariffs

The U.S. stock market rebounded Monday after President Trump appeared to walk back imposing new tariffs on Chinese goods. The markets did take a tumble on Friday after the president threatened to issue an additional 100 percent tariffs on Chinese imports starting November 1st. In response, China warned it would impose new port fees on U.S. commercial ships. But in a post on social media Sunday, Trump wrote, quote, Don't worry about China. It will all be fine. CBS News senior business and technology correspondent Jolene Kent joins us now. Jolene, thanks so much for being with us here. The president, they're saying, don't worry about China. But is this threat of these new tariffs still on the table? Well, the story isn't over yet. This is just another step in this roller coaster between the U.S. and China. And when you look at where the U.S. is in terms of negotiations, we know, according to Secretary Bessen, the Treasury secretary, that they're slated to continue forward. But this really stemmed from the Chinese move on rare earth minerals, those important resources that go into cell phones and other critical electronics. And that's where the U.S. is at a pretty distinct disadvantage. So President Trump saying, OK, things are going to be fine. We're going to work it out with the Chinese. But it's important to mention that the Commerce Ministry in China said, you know, their spokesman saying, we don't want to trade war, but we're also not afraid of one. And so as these talks continue, these next steps go forward, we do expect continual tension. And these two sides certainly have a lot to work out. And a lot of those specifics are still not ironed out, Nancy. Given how much they do have to work out, Jolene, where do these talks really go from here? Yeah, we heard from Secretary Bessen today that the staff level talks will continue this week in Washington, D.C. And then the two presidents, Xi Jinping and President Trump, are still slated to speak on the sidelines of APEC in South Korea at the end of this month. That's still on track, according to the Treasury Secretary. So we'll see what happens here, but certainly a lot of tension and drama. And if you look at what happened with the U.S. markets on Friday, and then you take a look at what happened today, some could argue that, look, you see that market pressure and the market tanking, and then you see a reversal, a softening, so to speak, of where the president, President Trump, stands on this issue. I expect we'll see some more roller coaster riding to go. There's probably going to be some more ups and downs for all the investors in the market right now. We know you'll be covering it all, as usual. Jolene Kent, thank you very much. Thanks, Nancy.

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