U.S. expects immediate action from China on trade commitments

The two leaders agreed to hold off on imposing more tariffs for 90 days starting Dec. 1 while they negotiate a deal to end the dispute following months of escalating tensions. Global markets rose on Monday to their highest levels in about three weeks on the news. On Wall Street, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all gained more than 1 percent. China offered more than $1.2 trillion in additional commitments on trade at the dinner between Xi and Trump on Saturday, Treasury Secretary Steve Mnuchin said on Monday. White House economic advisor Larry Kudlow said the figure was a broad benchmark that would depend on private transactions for U.S. goods and was subject to market conditions.