U.S. Retreats on Chinese Tariff Threats, Stocks Soar - USA DAILY NEWS

U.S. Retreats on Chinese Tariff Threats, Stocks Soar

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WASHINGTON—The Trump administration abruptly suspended plans to impose new tariffs on about $156 billion in goods from China, saying the move was driven by concerns about the impact an escalating trade fight would have on businesses and consumers ahead of the holiday shopping season.

The shift fueled a rally on Wall Street, sending the Dow Jones Industrial Average up 1.44% to 26279.91. But it wasn’t immediately clear if the retreat marked a significant step toward resolving the more than yearlong trade conflict between the…

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