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.

Dow stocks soared over 1,100 points after the U.S. and China announced they would lower tariffs for 90 days. Meanwhile, President Trump defended his move to accept a potential offer from Qatar to provide a new Air Force One jet.

The U.S.-China truce trade is on, and the auto industry is center stage, thanks to its reliance on global production hubs and supply chains. Shares in Mercedes-Benz and BMW rallied Monday. The German companies both make sports-utility vehicles in the American south for the U.