The US Wall Street stock market has increased after showing positive movement yesterday.
The major indexes jumped supported by President Donald Trump's action to increase tariffs on aluminum and steel imports from 25% to 50%, which will take effect this Wednesday.
The S&P 500 index increased 0.58%, the Dow Jones strengthened 0.51%, while the technology-focused Nasdaq rose 0.81%.
This situation occurred after Trump accused China of violating the last-minute agreement and acting unfairly in trade by imposing high tariffs, stealing intellectual property and manipulating the currency.
Chinese President Xi Jinping and Trump are expected to hold talks via phone this week in an effort to resolve trade tensions between the two countries.
Investors are worried about the escalating US-China tariff war, although both countries have taken various steps to ease the trade tariff conflict.
In other developments, the Trump administration also urged other countries to submit their best trade offers by Wednesday to speed up negotiations before the five-week deadline for tariffs.
The White House wants offers that include digital trade commitments, tariffs, economic security guarantees, country-specific obligations, the elimination of non-tariff barriers and quotas for industrial products.
The information technology sector rose 1.5% after Nvidia shares rose 2.9%, driven by strong demand for AI chips and investor confidence in the company's growth.
US stock market volume recorded $15.69 billion compared to an average of $17.8 billion over the full 20 trading days.
