U.S. stocks opened higher on Monday, after China and the United States announced a series of tariff modification measures aimed at easing trade tensions between the world's two largest economies, following talks in Geneva.
The Dow Jones Industrial Average opened at 41,899.05 points, up 649.67 points, or 1.57 percent.
The Standard and Poor's 500 Index opened at 5,807.20 points, up 147.29 points, or 2.60 percent.
The Nasdaq Composite Index opened at 18,674.55 points, up 745.63 points, or 4.16 percent.
The decision to ease simmering trade tensions followed a two-day high-level meeting on economic and trade affairs between China and the U.S., where the two sides issued a joint statement recognizing the importance of their bilateral economic and trade relationship to both countries and the global economy, and emphasizing the need for a sustainable, long-term and mutually beneficial economic and trade relationship.
According to the statement, the United States paused the 24 percent additional ad valorem rate of duty on goods sent from China (including goods from the Hong Kong Special Administrative Region and the Macao Special Administrative Region) for 90 days starting from April 2, while retaining the remaining rate of 10 percent on those goods. It will also remove the additional tariff rates on imports from China announced on April 8 and 9 respectively.
The pause in tariffs comes after the White House issued Executive Order 14259 on April 8, raising "reciprocal" tariff rates on China to 84 percent. One day later, the White House, in another executive order, hiked the rate to 125 percent.
Ad valorem tax is a tax based on the assessed value of assets, goods or services being taxed.
China says it will modify the application of the additional ad valorem rate of duty on goods from the United States set forth in the Announcement of the Customs Tariff Commission of the State Council No. 4 of 2025, by suspending 24 percent of additional tariffs for an initial period of 90 days, while retaining the remaining additional ad valorem rate of 10 percent on those goods.
It will also remove the modified additional ad valorem rates of duty on those goods imposed by announcements No. 5 and No. 6 issued by the Customs Tariff Commission of the State Council on April 9 and 11 respectively.
China will also adopt all necessary administrative measures to suspend or remove the non-tariff countermeasures taken against the United States since April 2, 2025.
The two sides commit to take the actions by May 14.
The two sides will also establish a mechanism to continue discussions about economic and trade relations. These discussions may be conducted alternately in China and the United States, or a third country upon agreement of the Parties, the statement said.
US stocks open higher on Monday after positive trade talks with China
The city of Shenzhen in south China's Guangdong Province is fast becoming the world's most dynamic hub for humanoid robotics.
Home to over 74,000 robotics firms and more than 140,000 AI professionals, Shenzhen is not only powering the city's robotics boom through its thriving innovation ecosystem but also transforming the way robots are developed from sensor-packed feet to ultra-sensitive skin.
One of the front-runners is UBtech, a leading robotics innovator headquartered in the city. Back in 2022, its humanoid robots were only capable of walking, writing calligraphy, and practicing tai chi. Today, they are deployed in dozens of smart factories, including those run by Geely, BYD, and Foxconn, handling repetitive tasks once done by humans.
This year, UBtech plans to roll out 1,000 humanoid robots across factory floors.
"Over the past 15 months, our industrial humanoid robots have progressed through three generations, with each iteration faster than the previous," said Michael Tam, chief brand officer of UBtech.
This rapid development cycle, known locally as "Shenzhen Speed," is driven by deep research and development capacity and an unparalleled supply chain.
In Nanshan District alone, dubbed Shenzhen's "Robot Valley," over 30 robotics companies operate along a 10-kilometer stretch of Liuxian Avenue.
"We can quickly find efficient solutions across the entire supply chain, all within one hour," Tam said.
Hardware innovation plays an equally critical role. At Sycsense Technology, robots are being equipped with precision sensors and LiDAR systems that enable them to handle fragile tasks, like picking strawberries without damage.
"Here, you can finalize a design by morning and get a sample by evening. This is 'Shenzhen Speed,'" said Sycsense CEO Xiong Gengchao.
The speed mentioned by Xiong is underpinned by Shenzhen's dense and mature electronics ecosystem. RoboSense, a major supplier of LiDAR technology, is located just 20 minutes away from hundreds of robotics firms it serves.
"Shenzhen's electronics ecosystem delivers twin advantages: suppliers next door slash production time by 50 percent, while daily collaboration with nearby innovators accelerates our R and D," said Xie Tiandi, marketing director of RoboSense.
The city's concentrated supply chains and R and D power have led to a surge in innovation. In 2024 alone, robotics patent filings and grants rose more than 35 percent from the previous year. The sector reached 201.2 billion yuan (about 28 billion U.S. dollars), up 12.6 percent year on year.
Shenzhen's robotics rise is the result of over a decade of investment from government funding to talent cultivation, all of which aimed at building a globally competitive, full-stack innovation ecosystem.
Today, Shenzhen produces one-third of the world's LiDAR systems. And thanks to the seamless pipeline from lab to factory, the city is sending the country's humanoid robots onto the global stage at a pace no one can match.
Shenzhen home to 74,000 robotics firms
