President Trump’s triple-digit tariffs on Chinese products disrupted global trade — but haven’t appeared to result in major concessions from Beijing.

The announcement sent financial markets soaring after weeks of turmoil over tariff fears. Major Wall Street indexes surged, with the broad-based S&P 500 closing 3.3 per cent higher.

By JAMEY KEATEN, DAVID McHUGH, ELAINE KURTENBACH and KEN MORITSUGU GENEVA (AP) — U.S. and Chinese officials said Monday they had reached a deal to roll back most of their recent tariffs and