The United States and China announced a preliminary trade agreement aimed at easing ongoing tensions between the world's two largest economies. The agreement followed intensive rounds of high-level talks and resulted in mutual steps to reduce tariffs on a number of goods.

This agreement represents a ray of hope for global markets, which have suffered from the effects of the trade war in recent years. The conflict has contributed to disruptions in supply chains, increased production costs, and slowed global growth. The announcement was met with relief from investors, with global stock markets experiencing a significant rise, and risk appetite increasing amid optimism about improved economic relations.