China, which became targeted by Trump's most burdensome tariffs, reached a truce with the U.S. in an agreement announced Monday, signaling a 90-day cooling-off period that signals a temporary end to the longstanding trade war between the two superpowers. U.S. tariffs on Chinese imports, which were jacked up to 145% last month as President Trump hiked tariffs on countries around the world, will be scaled down to 30%, with Beijing lowering its tariffs from a retaliatory 125% to just 10%. The deal came after a blockbuster agreement with the U.K. last week, something Moore emphasized before pivoting back to China. "It looks like it's a dramatic reduction in tariffs on both sides of the Pacific with respect to the U.S. reducing our tariffs and China [reducing] theirs. If you get this domino effect, then you're going to see a lot more green on that screen over the next few weeks," he said, with the caveat that there are still many "choppy waters" to wade through. "[The devil is in] the details of how these negotiations are going to proceed. But my God, what's the Dow up now, 3,000 points from its low point? By the way, this is pretty close to a high point, isn't it, on the Dow? We're pretty close to it."

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