Market Reacts to Tariff Adjustments

In a significant market movement, Brent crude futures experienced a notable increase, rising over 1% early Monday. This surge comes as the global markets continue to assess the implications of President Donald Trump's latest decision to exempt certain technological products from the steep 145% tariffs imposed on Chinese imports.

Price Movements Detailed

By 8:31 am ET, June's Brent futures had climbed 1.19%, reaching $65.69 per barrel. Not far behind, May's West Texas Intermediate (WTI) also saw an uptick, increasing by 0.89% to $62.35 per barrel by 8:32 am ET.

China's Response

Beijing has labeled the tariff exemptions as a "small step" towards rectifying what it views as "wrong practices." This development marks a pivotal moment in the ongoing trade discussions between the two economic powerhouses.