US stocks hit new highs thanks to US-China trade progress

US stocks rose to record highs on June 27 as the US and China moved closer to a trade deal and Washington signaled it could soon reach agreements with dozens of other partners.

Traders work at the New York Stock Exchange on June 23 - Photo: NYSE

The market is booming

According to CNBC, on June 27, the S&P 500 increased 0.3% to 6,156.80 points, breaking the previous record of 6,147.43 set on February 19.

The Nasdaq Composite also hit a new high, rising 0.3% to 20,218 points. Meanwhile, the Dow Jones rose 156 points, or 0.4%.

After peaking in February on expectations that the Trump administration would introduce business-friendly policies, US stocks plunged when Mr. Trump unexpectedly imposed tariffs on dozens of countries.

In April, the S&P 500 fell nearly 18% in 2025. The market then had a spectacular recovery when Mr. Trump temporarily postponed tariffs to pave the way for trade negotiations.

Late on June 26, US Commerce Secretary Howard Lutnick told Bloomberg that the US and China have completed the framework for a trade deal.

US President Donald Trump had earlier announced that he had signed a trade deal with Beijing. A White House official later clarified that Mr Trump meant that China had agreed to “a supplementary agreement to the framework for implementing the Geneva agreement”.

On June 27, China's Ministry of Commerce confirmed that the two countries had agreed on a framework that would allow China to export rare earths to the US and ease some restrictions in the technology sector.

On the same day, US Treasury Secretary Scott Bessent said Washington and Beijing had resolved issues related to the transportation of rare earth minerals and magnets.

“I am now absolutely confident that, as agreed, the magnets will be back in circulation,” Bessent told Fox Business.

China has suspended exports of a range of strategic minerals in response to US tariffs, causing severe disruptions to global supply chains in the auto, semiconductor and defense sectors.

The possibility of the US reaching many important agreements before September

Also in an interview with Fox Business, Secretary Bessent revealed the possibility that Washington could reach a key tariff agreement with more than 10 other partners before Labor Day on September 1.

He noted that the US is focusing on 18 of its most important partners.

“If we can get 10 or 12 of those 18 deals signed, and then 20 other important relationships, I think we can get it done by Labor Day,” Bessent said.

The statement comes as the July 9 deadline approaches, when US tariffs are expected to be imposed on dozens of economies .

Many countries have been racing to negotiate with Washington to avoid facing this tariff increase. The White House recently suggested that the Trump administration could extend this deadline.

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THANH HIEN

Source: https://tuoitre.vn/chung-khoan-my-lap-dinh-nho-tien-trien-thuong-mai-my-trung-2025062721521816.htm