US stocks rise as trade war concerns ease

US stocks rose at the open of Tuesday trading as worries about the trade war subsided after comments by President Donald Trump, by which he tried to ease pressure on markets.

Wall-Street received a sharp shock yesterday after China announced a retaliatory response by raising tariffs on its imports of US goods by $60 billion to 25% from June, prompting US stocks to record the biggest daily losses this year.

President Trump said that despite mutual tariffs, there is still hope for a trade deal with China.

The US president stressed that the abolition of tariffs will depend on the progress made in the next trade negotiations with the Chinese side.

Government data showed that the US Import Prices index rose 0.2% in April, while analysts expected the index to rise by 0.7%.

In terms of trading, Dow Jones rose by 0.8% (equivalent to 202 points) to reach 25,527 points, Nasdq rose 1% (74 points) to 7,721 points, while Standard & Poors' rose by 0.8% (23 points) to 2,835 points.