Trump news at a glance: Markets rally on China trade war pause, first Afrikaner ‘refugees’ arrive

Wall Street jumps as president hails total reset' with Beijing, while administration stirs controversy with refugee status for white South Africans. Key US politics stories from Monday 12 May 2025 at a glance

They've agreed to open up China," US president Donald Trump claimed at a press conference at the White House on Monday morning, having spent months escalating tensions with Beijing by ratcheting up tariffs on the country's exports.

Chinese duties on US goods will be lowered to 10%, while the US tax on Chinese goods will be lowered to 30%. The latter is because US tariffs include 20% previously imposed by Trump blaming China for the US's fentanyl crisis.