US stocks edged higher on Friday as market sentiment improved following President Donald Trump’s comments suggesting progress on multiple trade agreements and a possible reduction in tariffs on Chinese goods ahead of key talks this weekend.
The Dow Jones Industrial Average rose 111 points, or 0.3%, while the S&P 500 gained 0.4% and the Nasdaq Composite advanced 0.6%.
Tech and trade-sensitive sectors led gains, building on momentum from Thursday’s announcement of a preliminary trade deal between the US and the UK.
“Many Trade Deals in the hopper, all good (GREAT!) ones!” Trump posted on Truth Social, reinforcing investor optimism that the UK agreement could pave the way for more pacts with other major economies.
The UK deal is the first announced since the US implemented its sweeping “reciprocal” tariffs policy last month, and the 10% rate agreed with Britain is being viewed as a potential benchmark for future deals.
Investors are now closely watching the upcoming US-China negotiations in Switzerland, which will mark the first formal meeting since tariffs between the two nations escalated.
Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer will meet Chinese Vice Premier He Lifeng in what could be a crucial step toward easing bilateral trade tensions.
Week to date, the S&P 500 is flat, the Nasdaq is on track for a 0.3% gain, and the Dow is up 0.5%, positioning for a third straight positive week.
Trump on China tariffs
US President Donald Trump on Friday floated the idea of an 80% tariff on Chinese imports ahead of scheduled trade talks in Switzerland this weekend.
In a post on Truth Social, Trump said: “80% Tariff on China seems right! Up to Scott B,” referring to Treasury Secretary Scott Bessent, who is set to lead the US delegation alongside Trade Representative Jamieson Greer in talks with Chinese Vice Premier He Lifeng.
The proposed figure would mark a significant drop from the current 145% tariffs imposed by the US on various Chinese goods, though it would still be well above historical levels.
China has responded with its own set of retaliatory tariffs, exceeding 100%.
The comment comes just days after the US announced a trade agreement with the UK, which included a 10% baseline tariff, well below the rate Trump has suggested for China.
Earlier this week, the president reiterated that American consumers are prepared to face higher prices and reduced product variety if it helps shift manufacturing jobs back to the US.
Despite expressing openness to lowering tariffs in the future, Trump’s latest comments suggest that any compromise with China may remain elusive in the short term.
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