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 appears to soften 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.

U.S. President Donald Trump is heading back to the U.S. after his whirlwind trip to the Middle East, where he celebrated the first phase of a peace plan between Israel and Hamas.

Sharm El-Sheikh

Middle East Conflict

Trump, world leaders sign Gaza peace plan and discuss next steps

The government shutdown entered its third week on Monday as the Senate is set to reconvene on Tuesday. CBS News' Nikole Killion has more from Capitol Hill.

Shutdown drags into third week as Senate set to reconvene

Madagascar's President Andry Rajoelina has been flown out of the country in a French military plane, officials have said, after an elite army unit defected to join thousands of protesters demonstrating against corruption and poverty.

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U.S. President Donald Trump was greeted in Tel Aviv with cheers and a military ceremony as he met families of hostages held in Gaza and addressed Israel's parliament. He now travels to Sharm El Sheikh, Egypt, to join world leaders in discussions on Gaza's future.

Tel Aviv-Yafo

Trump meets with Israeli leaders and hostage families

Twenty living hostages were released by Hamas after more than two years in captivity as a ceasefire continues to hold. Families in Israel describe emotional reunions while others continue to await confirmation about missing relatives.

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Israeli officials have confirmed that all 20 living captives have been released in Gaza.

Israel confirms all 20 living captives in Gaza have been released

The carefully choreographed Israel-Hamas exchange is underway, with Israel set to release around 2,000 Palestinian prisoners following the release of remaining hostages held in Gaza. Noga Tarnopolsky reports from Tel Aviv’s Hostage Square.

Israel-Hamas swap begins as 2,000 Palestinian prisoners set for release

Following his visit to Israel, President Trump will stop in Egypt to co-host a major summit in Sharm el-Sheikh alongside Egyptian President Abdel-Fattah el-Sissi. The meeting will bring together leaders from more than 20 countries to discuss efforts toward peace in Gaza and the wider Middle East.

Donald Trump to co-host chair Gaza peace summit in Egypt

The French presidency announced Prime Minister Sebastien Lecornu's new cabinet line-up on Sunday (October 12), with most top jobs remaining unchanged at a time when opponents are demanding a political shift to win their support for urgent budget talks.

Paris

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Seven captives have been handed over to the Red Cross, who will facilitate their transfer to Israeli forces.

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On his way to the Middle East, U.S. President Donald Trump told reporters he expects the ceasefire between Israel and Hamas to hold, despite concerns Hamas won’t abide by the deal.

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China on Sunday (October 12) called U.S. President Donald Trump's latest tariffs on Chinese goods hypocritical and defended its curbs on exports of rare earth elements and equipment, but stopped short of imposing new levies on U.S. products.

Beijing

Global Tariffs

Beijing blames U.S. for trade tensions, defends rare earth curbs

Afghanistan and Pakistan said they killed dozens of each other's troops during a night of heavy border clashes between the two countries. Afghanistan's Taliban forces launched attacks on Pakistani troops along their shared border in what it called "retaliation for air strikes carried out by the Pakistani army on Kabul".

Chaman

Border clashes between Afghanistan and Pakistan leave dozens dead

A ceasefire between Israel and Hamas held in Gaza for a third day ahead of the expected release of Israeli hostages and Palestinian prisoners and an address by U.S. President Donald Trump to Israel's parliament.

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Zelenskyy called Trump for a second consecutive day to discuss defence and Ukraine's energy sector. It comes as Russia further intensifies its attacks on Ukraine's critical infrastructure ahead of its harsh winter.

Kyiv

Ukraine Invasion

Zelenskyy has second call with Trump amid Russian strikes

On Sunday, the minister of armed forces in Madagascar acknowledged an officer selected by a military group supporting demonstrators calling for President Andry Rajoelina to resign as the country's new army chief.

Madagascar’s president says coup underway

With a trade war between the U.S. and China intensifying ahead of a Nov. 1 tariff deadline, there’s growing concern Beijing will use Taiwan as a bargaining chip.

Taipei City

Growing fear China will use Taiwan to bargain with U.S.

In a televised address ahead of the planned release of Israeli captives and Palestinian prisoners, Israeli Prime Minister Benjamin Netanyahu called for unity despite ongoing divisions.

Netanyahu urges Israel put aside ‘differences’ with Gaza

U.S. President Donald Trump blamed Democrats for his decision to lay off thousands of workers across the U.S. government as he followed through on his threat to cut the federal workforce during the government shutdown.

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Thousands gathered in Tel Aviv as 48 of the last remaining hostages are expected home after two years of the Israel-Hamas war. The crowd cheered Donald Trump as the peace deal's broker but there were jeers for Israeli Prime Minister Benjamin Netanyahu.

Tel Aviv braces for hostage release planned for Monday

Diane Keaton, the Oscar-winning star of Annie Hall and The Godfather films, died Saturday at the age of 79, according to U.S. media reports. Entertainment journalist Johanna Schneller remembers Keaton as 'feisty and funny'.

Hollywood

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Former President Biden is now receiving radiation and hormone therapy to treat his prostate cancer, an aide said. The cancer is considered aggressive.

Biden receiving radiation, hormone therapy to treat aggressive cancer

It is unclear how many people were inside the Tennessee plant that exploded on Friday, but at least 16 people were reported on Saturday. Sheriff Chris Davis announced that there are no survivors. Nicole Valdes reports.

Tennessee

No survivors in Tennessee plant explosion, sheriff says

Thousands of pro-Palestinian protesters in London marked two years since the War in Gaza. However, the British government has seen enough. Haley Ott reports that police have been given sweeping powers to curb repeated demonstrations.

London

British Parliament designates Palestine Action a terrorist organization

Middle East Envoy Steve Witkoff has addressed hundreds of thousands of Israelis in what's known as “Hostages Square” in Tel Aviv. Witkoff hailed President Donald Trump for securing the ceasefire. The crowd was less receptive to his praise for Benjamin Netanyahu.

U.S. envoy booed for praising Netanyahu at Tel Aviv rally

A ceasefire is in effect between Hamas and Israel after just over two years of war. An exchange of Israeli hostages and Palestinians held prisoner is set to take place in the coming days, and U.S President Donald Trump is set to visit the region on Monday.

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The families of hostages taken by Hamas on Oct. 7, 2023 are eagerly awaiting the return of their loved ones. The peace deal between Israel and Hamas would see the hostages returned within 72 hours of its implementation Friday.

Families of hostages in Gaza await their release

Ukrainian President Volodymyr Zelenskyy says he's had phone calls with Prime Minister Mark Carney and U.S. President Donald Trump about defence and energy infrastructure. Russian strikes have led to widespread blackouts in Ukraine.

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Gaza City lies in devastation — returning Palestinians find their homes reduced to rubble and familiar streets erased. It comes after a U.S-brokered peace deal came into effect.

Breakdown