From Nasdaq: 2025-05-14 14:30:00

In a significant breakthrough, the US and China have agreed to a 90-day truce, reducing tariffs on billions of dollars in goods. US tariffs on Chinese imports drop from 145% to 30%, while Chinese tariffs on US goods decrease from 125% to 10%, offering temporary relief and room for further negotiations.

Apple and Nike, both with substantial exposure to China, surged following the tariff truce announcement. Apple, down 15% year-to-date, has rebounded from lows, benefiting from reduced trade tensions. Nike, facing weak demand and tariff-related challenges, also saw relief, sparking hope for positive earnings revisions.

Nike’s EPS estimates took a hit post-tariff announcements, but recent developments could lead to a positive resurgence. The company, like many others, suffered from the initial tariff impact, but the de-escalation could pave the way for improved profitability outlooks and stock performance.

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Read more at Nasdaq: Apple & Nike Bounce on China Tariff News: A Closer Look