Rally closed her main stock market markers Wall Street Monday, As the US and China have agreed to temporarily reduce duties After negotiations at the weekend in Switzerland.

US Finance Minister Scott Bessed said on Monday that talks with China were “very productive” and the two countries agreed to reduce “mutual” duties by 115% for 90 days. Thus, US tariffs on Chinese products are reduced to 30% and Chinese tariffs on US imports to 10%.

Bessed told CNBC on Monday that he is expecting to meet with Beijing representatives in the coming weeks to reach a larger agreement.

Tensions between China and the US were fired when US President Donald Trump announced 145% duties last month to imported goods from China. Beijing then retaliated with 125% of its own tariffs aimed at US goods.

“We believe that the maximum uncertainty about trade has passed, but market volatility is likely to remain,” the UBS chief for fixed income Kurt Reiman said.

In this climate, the Dow Jones won 2.81% or 1,1160.72 points at 42,410.10 points, S&P 500 was reinforced by 3.26% or 184.53 points to 5,844.44 points and Nasdaq It made a jump of 4.35% or 779.43 points at 18.708.34 points.

“The markets have noted rally because investors are surprised at the speed of the Chinese trade duties agreement,” said KKM Financial’s Jeff Kilburg.