White House Confirms Trade Agreement With China After Geneva Talks

Summary

The U.S. and China have reached a key trade agreement following high-level talks in Geneva, signaling a potential cooldown in tariff tensions - White House says.

Market Recap

✅ TESLA INC ( TSLA ) : +4.62%

✅ AMAZON INC ( AMZN ) : +3.6%

✅ NIKE INC ( NKE ) : +3.77%

✅ AMD ( AMD ) : +3.07%

❌ GOLD ETF ( GLD ): -1.92%

Market Movers

📈 Scott Bessent on Squawk on the Street CNBC 7am ET: May 12, 2025

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📚 Deep Dive 📚

Trade Deal Reached: U.S. and China Agree in Geneva

Big news overnight: the White House just announced a major trade deal with China after two days of negotiations in Geneva. Read Official Announcement Here

U.S. Treasury Secretary Scott Bessent called the talks a “big step forward,” while Trade Rep Jamieson Greer said both sides “moved faster than expected.” Chinese officials also said the talks were “constructive” and that a joint statement is coming Monday.

Why it matters?

This could ease trade tensions that had pushed tariffs as high as 145% between the two countries. Moreover - stocks could really get going here and enter a new bull market with institutional buying.

What’s next?

Scott Bessent will be live on CNBC’s Squawk on the Street at 7:00 AM ET to break it all down, and surely a press conference after. The details of this "trade deal" will be very important and all eyes are on this.

Meanwhile… Our options calls in TSLA , AMZN , NKE , and AMD are flying on the news — massive overnight gains as optimism sweeps the markets.

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