World

Stocks are surging on Wall street, echoing a rally overseas, after China and the United States announced a 90-day truce, described as a “breakthrough” in their trade war. Both countries agreed to take down most of their tariffs, which economists warned could start a global recession and create shortages on U.S. store shelves. Anne Gaviola has this story and more in Business Matters for May 12, 2025.