00:00The U.S. and Chinese officials met in London on Tuesday for a second day of trade talks
00:07in the hope that they can eventually reach a deal to reduce their painful high tariffs on each other.
00:14Most of the tariff hikes imposed since U.S. President Donald Trump escalated high trade war
00:19are paused to allow trade in everything from tiny tech gadgets to enormous machinery to continue.
00:26Hopes that Trump will lower his tariffs after reaching trade deals with countries around the world
00:32have helped the market rally after falls of roughly 20% from the record high of two months ago.
00:40Shares are back above where they were when Trump shocked financial markets in April
00:45with his wide-ranging tariff announcement on what he called Liberation Day.
00:51Even though many tariffs are on hold for the moment, they are still affecting companies
00:55and their ability to make profits because of all the uncertainty they've created.
