US and China cut tariffs, spurring 3% jump in Hong Kong stocks
SHANGHAI/HONG KONG — The U.S. and China have agreed to slash the “reciprocal” tariffs on each other’s goods, according to a joint statement released on Monday, marking a major turning point in the trade war between the world’s two largest economies. Under the agreement, the U.S. will temporarily lower tariffs on Chinese imports by 115 percentage points…