*By Alisha Haridasani*
Investors responded enthusiastically Monday to the news that the United States and China were "putting the trade war on hold," with the Dow Jones Industrial Average crossing 25,000 for the first time in two months.
The S&P 500 and the Nasdaq were also up after the United States announced over the weekend it would hold off on imposing tariffs on China to address the countries' trade imbalance.
In return for the reprieve from tariffs, China announced it “will significantly increase purchases” of U.S. exports, specifically agricultural and energy goods, according to a [joint statement](https://www.whitehouse.gov/briefings-statements/joint-statement-united-states-china-regarding-trade-consultations/) from the two governments released by the White House. The two sides also agreed to “strengthen cooperation” on intellectual property protections, but crucial details about how much of what good China will purchase, and at what cost, remain undecided.
The market rallied even without details of just how much China has committed to buying. "It's really the removal of negative news that drives markets higher, more so than the announcement of more positive news," said Mark Hackett, chief of investment research at Nationwide.
Trump [touted](https://twitter.com/realDonaldTrump/status/998525737593376768) the deal in a series of tweets on Monday as "one of the best things to happen to our farmers in many years." The president also [assured](https://twitter.com/realDonaldTrump/status/998524172858019840) his followers: "Fair Trade, plus, with China will happen!"
The apparent truce was the result of three days of trade negotiations in Washington, where American officials appear to have backed away from Trump's tough talk on tariffs, for the time being.
Trump said last month that he would consider imposing import taxes on $150 billion worth of Chinese goods, and Beijing vowed to retaliate by levying its own tariffs on a range of American products, from denim to orange juice.
The U.S. had also barred companies from doing business with the Chinese electronics company ZTE, punishing it for allegedly violating trade sanctions on North Korea and Iran. But last week, Trump agreed to help save the company, perhaps using ZTE's weakened position as a bargaining chip in the trade negotiations.
It’s still unclear what the administration has decided to do with its penalties on ZTE.
For the full interview, [click here](https://cheddar.com/videos/china-trade-war-fears-ease-and-the-dow-soars).
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.
