""Market participants appear to be leaning into the TACO trade once more, fueled not only by what we've seen in the recent past, but also by conciliatory remarks over the weekend from both President Trump and Vice President Vance, suggesting that Friday's announcement of additional 100% tariffs on Chinese imports are likely to be little more than a negotiating tactic," Michael Brown, senior research strategist at Pepperstone, said in a note on Sunday."
"Meanwhile, Vice President JD Vance told Fox News's Sunday Morning Future s that the U.S. is willing to be reasonable if China is too, though he insisted Trump has the upper hand with "far more cards" than Beijing holds. The shift in tone contrasts with Trump's fiery rhetoric on Friday as he lashed out at China for its new export controls on rare earths, which are critical inputs across a range of industries."
Investors sought a market rebound after Friday's trade-war escalation pushed the S&P 500 to its worst loss since April. President Donald Trump posted conciliatory remarks on Truth Social, saying President Xi "just had a bad moment" and that the U.S. wants to help China. Vice President JD Vance said the U.S. would be reasonable if China is, while asserting Trump holds more leverage. The weekend tone softened compared with Friday's sharp response to China's new export controls on rare earths. U.S. futures rose, the 10-year Treasury yield fell, and the dollar moved against the euro and yen.
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