What was shaping up to be another down day in markets has reversed in Tuesday afternoon U.S. trading after Ukraine agreed to a Trump administration proposal for a 30-day ceasefire in its war with Russia.
Russia has yet to weigh in, but the agreement will hinge on that country’s acceptance, according to a joint statement of Ukraine and the U.S. after a meeting of their delegations in Saudi Arabia.
As part of the agreement, the U.S. will immediately lift a pause on intelligence sharing and military assistance to Ukraine, the statement continued.
Trade tensions ease as well
Helping the mood, Ontario Premier Doug Ford agreed to suspend a 25% electricity export surcharge he had put in place against a number of U.S. states.
The surcharge was made in retaliation to 25% tariffs Trump had placed on Canadian imports last week. Shooting back at that, Trump earlier Tuesday had threatened to double that tariff to 50% for steel and aluminum imports…
