The U.S. will drop its tariffs to 30% (due to the 20% “fentanyl tariffs”), and China will drop its tariffs to 10%. The market has rallied as expected, and many tariff-prone stocks that would’ve otherwise been crushed in a long-term trade war have seen their stocks soar.

Perpetual Head of Investment Strategy Matt Sherwood discusses “what happens next” in President Donald Trump’s tariff trade war.

It felt much longer, but the U.S. stock market needed just a few weeks to roar all the way back to where it was on President Donald Trump’s “Liberation Day.”