COLOMBO, Sri Lanka — A passenger bus skidded off a cliff in Sri Lanka’s tea-growing hill country on Sunday, killing 21 people and injuring 35 others, a police spokesman said. The accident occurred in the early hours of Sunday near the town of Kotmale, about 86 miles east of Colombo, the capital, in a mountainous area of central Sri Lanka, police said. Police spokesman Buddhika Manathunga said 21 people died and another 35 were being treated in hospitals. Local television showed the bus lying overturned at the bottom of a precipice while workers and others helped remove injured people from the rubble. The driver was injured and among those admitted to the hospital for treatment. At the time of the accident, nearly 50 people were traveling on the bus. Manathunga said police launched an investigation to ascertain whether the driver’s recklessness or a technical fault of the bus caused the accident. The bus was operated by a state-run bus company, police said. Deadly bus accidents are common in Sri Lanka, especially in the mountainous regions, often due to reckless driving and poorly maintained and narrow roads.

A ceasefire to end the conflict between India and Pakistan was shaken by overnight border fighting in the disputed Kashmir region. People on both sides of the Line of Control, which divides the territory, reported heavy exchanges of fire between Indian and Pakistani troops. The fighting subsided by Sunday morning. The two countries agreed to a truce a day earlier after talks to defuse the most serious military confrontation between them in decades following a gun massacre of tourists that India blames on Pakistan, which denies the charge. As part of the ceasefire, the nuclear-armed neighbors agreed to immediately stop all firing and military action on land, in the air and at sea. They accused each other of repeatedly violating the deal just hours later. Drones were spotted Saturday night over Indian-controlled Kashmir and the western state of Gujarat according to Indian officials. In the Poonch area of Indian-controlled Kashmir, people said the intense shelling from the past few days had traumatized them. “Most people ran as shells were being fired,” said college student Sosan Zehra who returned home Sunday. “It was completely chaotic.” In Pakistan-controlled Kashmir’s Neelum Valley, which is three kilometers from the Line of Control, people said there were exchanges of fire and heavy shelling after the ceasefire began. Resident Mohammad Zahid said: “We were happy about the announcement but, once again, the situation feels uncertain.” U.S. President Donald Trump was the first to post about the deal, announcing it on his Truth Social platform. Indian and Pakistani officials confirmed the news shortly after. Indian Prime Minister Narendra Modi chaired a high-level meeting on Sunday with top government and military officials. India, unlike Pakistan, has not said anything about Trump or the U.S. since the deal was announced. Nor has India acknowledged anyone beyond its military contact with the Pakistanis. Pakistan has thanked the U.S and especially Trump several times for facilitating the ceasefire. On Sunday, U.N. spokesperson Stephane Dujarric said Secretary General Antonio Guterres welcomed the deal as a positive step toward ending current hostilities and easing tensions. “He hopes the agreement will contribute to lasting peace and foster an environment conducive to addressing broader, longstanding issues between the two countries,” added Dujarric. India and Pakistan have engaged in daily fighting since Wednesday along the rugged and mountainous Line of Control, which is marked by razor wire coils, watchtowers and bunkers that snake across foothills populated by villages, tangled bushes and forests. They have routinely blamed the other for starting the skirmishes, while insisting they themselves were only retaliating. India and Pakistan’s two top military officials are due to speak again on Monday. Kashmir is split between the two countries and claimed by both in its entirety. They have fought two of their three wars over the region and their ties have been shaped by conflict, aggressive diplomacy and mutual suspicion, mostly due to their competing claims.

A ceasefire agreement between India and Pakistan, announced by President Donald Trump earlier today, has allegedly been violated by Pakistan. Indian Foreign Secretary Vikram Misri said the Indian army is retaliating against the border intrusion. The conflict follows a recent terrorist attack in India-administered Kashmir, which India blames on Pakistan—a claim Pakistan denies. Both countries continue to assert full territorial claims over Kashmir, fueling ongoing tensions. Pakistani Prime Minister Shehbaz Sharif declared victory during a press conference today, notably omitting any acknowledgement of the alleged ceasefire violation by his country. “The army and whole Pakistani nation has become successful, and we have won. This is victory,” Sharif said. Sharif expressed gratitude to U.S. President Donald Trump for his “pivotal and paramount role” in the ceasefire, but emphasized that Pakistan's efforts are far from over. “We will not be sitting in peace until Pakistan will not — until Pakistan gets its lost integrity back and by God’s grace, and that time is not far away In a post on X, Omar Abdullah, India's chief minister of Jammu and Kashmir, said earlier today he heard explosions in the region in the hours after the ceasefire was announced. "What the hell just happened to the ceasefire? Explosions heard across Srinagar!!!" Abdullah wrote, adding: "This is no ceasefire. The air defence units in the middle of Srinagar just opened up." The Indian government has accused Pakistan of violating the ceasefire agreement, saying it was breached within hours of the deal. "This intrusion is extremely condemnable and Pakistan is responsible for it," said Indian Foreign Secretary Vikram Misri. "We believe that Pakistan should understand this situation properly and take appropriate action immediately to stop this intrusion." Misri said the "Indian Army is retaliating and dealing with this border intrusion."

ISLAMABAD, Pakistan — Pakistan said that India fired missiles at three air bases inside the country Saturday but most of the missiles were intercepted and that retaliatory strikes on India were underway. It’s the latest escalation in a conflict triggered by a massacre last month that India blames on Pakistan. The Pakistani military said it used medium-range Fateh missiles to target an Indian missile storage facility and airbases in Pathankot and Udhampur. Army spokesman Lt. Gen. Ahmad Sharif said that Pakistan's air force assets were safe following the Indian strikes. He added that some of the Indian missiles also hit India’s eastern Punjab. “This is a provocation of the highest order,” Sharif said. There was no immediate comment from India. State-run Pakistan Television reported that Prime Minister Shehbaz Sharif has convened a meeting of the National Command Authority, the body responsible for overseeing the country’s missile program and other strategic assets. Tensions between the nuclear-armed rivals have soared since an attack at a popular tourist site in India-controlled Kashmir left 26 civilians dead, mostly Hindu Indian tourists, on April 22. New Delhi has blamed Pakistan for backing the assault, an accusation Islamabad rejects. U.S. Secretary of State Marco Rubio spoke with Pakistani Army Chief Asim Munir on Friday. State Department spokesperson Tammy Bruce said Rubio continued to urge both parties to “find ways to deescalate and offered U.S. assistance in starting constructive talks” in order to avoid future conflicts. The call for calm came ahead of Saturday’s Indian missile strikes, which targeted Nur Khan air base in the garrison city of Rawalpindi, near the capital Islamabad, Murid air base in Chakwal city and Rafiqui air base in the Jhang district of eastern Punjab province, according to Pakistan’s military spokesman. There was no media access to the air base in Rawalpindi, a densely populated city, and no immediate reports of residents hearing or seeing the strike or its aftermath. Following the announcement of Pakistani retaliation, residents in Indian-controlled Kashmir said they heard loud explosions at multiple places in the region, including the two big cities of Srinagar and Jammu, and the garrison town of Udhampur. “Explosions that we are hearing today are different from the ones we heard the last two nights during drone attacks,” said Shesh Paul Vaid, the region’s former top police official and Jammu resident. “It looks like a war here.” Vaid said explosions were heard from areas with military bases, adding it appeared that army sites were being targeted. Srinagar appeared calm early Saturday but some residents in neighborhoods close to the city’s airport, which is also an air base, said they were rattled by the explosions and booming sound of fighter jets. “I was already awake but the explosions jolted my kids out of their sleep. They started crying,” said Srinagar resident Mohammed Yasin, adding he heard at least two explosions. Praveen Donthi, a senior analyst with the International Crisis Group for India, said the two countries were at war even if they had not yet labelled it as one. “It’s become a remorseless race for military one-upmanship with no apparent strategic end goals from either side,” said Donthi. “With increasing civilian casualties on both sides, finding an exit or off-ramp is going to be challenging.” India’s army said it destroyed multiple armed Pakistani drones that were spotted flying over a military cantonment in northern Punjab state’s Amritsar city early Saturday. “Pakistan’s blatant attempt to violate India’s sovereignty and endanger civilians is unacceptable.” the statement said. In Pakistan, the civil aviation authority said the country’s airports were shut for all flight operations. “Thank God we have finally responded to Indian aggression,” said Muhammad Ashraf, who had headed out for breakfast in the eastern city of Lahore. The Indian army said late Friday that drones were sighted in 26 locations across many areas in Indian states bordering Pakistan and Indian-controlled Kashmir, including Srinagar. It said the drones were tracked and engaged. “The situation is under close and constant watch, and prompt action is being taken wherever necessary,” the statement added. India and Pakistan have traded strikes and heavy cross-border fire for days, resulting in civilian casualties on both sides. The Group of Seven nations, or G7, urged “maximum restraint” from India and Pakistan. It warned Friday that further military escalation posed a serious threat to regional stability.

Thousands of children have been found with acute malnutrition in the past month, but adults as well are not getting proper nutrients, according to the United Nations. It cost a fortune, she said, but Asmaa Fayez managed to buy a few zucchinis in a Gaza market. She cooked them with rice and brought it to her 4-year-old son, who has been in the hospital for the past week. The soup was his only meal of the day, and he asked for more. “It’s all finished, darling,” Fayez replied softly. Still, it was an improvement from the canned beans and tuna she brings on other days, she said. Hospital patients are among the most vulnerable as Palestinians across Gaza struggle to feed themselves, with Israel’s blockade on food and other supplies entering the territory now in its third month. With hospitals unable to provide food, families must bring whatever they can find for loved ones. “Most, if not all, wounded patients have lost weight, especially in the past two months,” Dr. Khaled Alserr, a general surgeon at Nasser Hospital in the southern city of Khan Younis, told The Associated Press. Nutritional supplements for intensive care unit patients are lacking, he said. “Our hands are tied when it comes to making the best choice for patients. Choices are limited,” he said. Malnutrition is on the rise across Gaza, aid groups say. Thousands of children have been found with acute malnutrition in the past month, but adults as well are not getting proper nutrients, according to the U.N. It estimates that 16,000 pregnant women and new mothers this year face acute malnutrition. Since Israel’s blockade began on March 2, food sources have been drying up. Aid groups have stopped food distribution. Bakeries have closed. Charity kitchens handing out bowls of pasta or lentils remain the last lifeline for most of the population, but they are rapidly closing for lack of supplies, the U.N. says. Markets are empty of almost everything but canned goods and small amounts of vegetables, and prices have been rising. Local production of vegetables has plummeted because Israeli forces have damaged 80% of Gaza’s farmlands, the U.N. says, and much of the rest is inaccessible inside newly declared military zones. Fayez’s son, Ali al-Dbary, was admitted to Nasser Hospital because of a blocked intestine, suffering from severe cramps and unable to use the bathroom. Fayez believes it’s because he has been eating little but canned goods. She splurged on the zucchini, which now costs around $10 a kilogram (2.2 pounds). Before the war it was less than a dollar. Doctors said the hospital doesn’t have a functioning scanner to diagnose her son and decide whether he needs surgery. Israel says it imposed the blockade and resumed its military campaign in March to pressure Hamas to release its remaining hostages and disarm. Hamas ignited the war with its Oct. 7, 2023, attack on Israel, in which militants killed some 1,200 people, mostly civilians, and took 251 hostage, most of whom have been released in ceasefire agreements or other deals. Israel’s offensive has killed over 52,000 Palestinians, mostly women and children, according to Gaza’s Health Ministry, which does not say how many of the dead were civilians or combatants. Israeli officials have asserted that enough food entered Gaza during a two-month ceasefire earlier this year. Rights groups have disputed that and called the blockade a “starvation tactic” and a potential war crime. Now Israeli plans to control aid distribution in Gaza, using private contractors to distribute supplies. The U.N. and aid groups have rejected the idea, saying it could restrict who is eligible to give and receive aid and could force large numbers of Palestinians to move — which would violate international law. Those under care at hospitals, and their families who scrounge to feed them, would face further challenges under Israel’s proposal. Moving to reach aid could be out of the question. Another patient at Nasser Hospital, 19-year-old Asmaa Faraj, had shrapnel in her chest from an airstrike that hit close to her tent and a nearby charity kitchen in camps for displaced people outside Khan Younis. When the AP visited, the only food she had was a small bag of dates, a date cookie and some water bottles. Her sister brought her some pickles. “People used to bring fruits as a gift when they visited sick people in hospitals,” said the sister, Salwa Faraj. “Today, we have bottles of water.” She said her sister needs protein, fruits and vegetables but none are available. Mohammed al-Bursh managed to find a few cans of tuna and beans to bring for his 30-year-old son, Sobhi, who was wounded in an airstrike three months ago. Sobhi’s left foot was amputated, and he has two shattered vertebrae in his neck. Al-Bursh gently gave his son spoonfuls of beans as he lay still in the hospital bed, a brace on his neck. “Everything is expensive,” Sobhi al-Bursh said, gritting with pain that he says is constant. He said he limits what he eats to help save his father money. He believes that his body needs meat to heal. “It has been three months, and nothing heals,” he said.

At the end of a waitressing shift, Kristina Lampert used to separate her tips in two piles: Canadian cash and American. But it's been weeks since she has done that. Freighters, the restaurant where she works, is one of the first places people can grab a bite after crossing the US-Canada border between Sarnia, Ontario, and Port Huron, Michigan. The Blue Water Bridge, which connects the US and Canada, is in full view from the restaurant's windows. "A lot of people used to come over and say 'we're here for the view'," she says of Canadian diners. "I haven't heard that at all recently." Border towns noticed almost instantly when US President Donald Trump began imposing tariffs on countries around the world and saying he wanted to make Canada the 51st US state - because the number of Canadians crossing the border plummeted. Border crossings between the US and Canada are down some 17% since Trump started bringing in tariffs, according to CBP data. Canadian's car trips to the US are down almost 32% compared to March 2024, according to Statistics Canada. Like many of the towns that dot along the 5,525 mile (8,891km) border, the economies of Port Huron and Sarnia are linked and in some ways dependent on one another. Port Huron is a manufacturing town of less than 30,000 people with a quaint downtown and lots of retail, offering visitors an enticing opportunity for a day-trip. On a day where there is little traffic, a Sarnia resident can cross the border and be in Michigan in a matter of minutes. Many of these towns faced their first test more than five years ago when the Covid-19 pandemic shut crossings down for 19 months and left local economies reeling. Now, they are seeing a second economic hit due to Trump's trade war, with many Canadians choosing to "buy Canadian" and reducing travel to the US in response to the fraying relationship between the two neighbouring countries. One place this is being felt is at Sarnia's Duty Free, the last place you can purchase goods before leaving Canada and entering the US. The shelves of perfume and liquor are fuller and the parking lot is emptier since tariffs tensions began. Barbara Barett, the executive director of Frontier Duty Free Association, says some of the 32 land-border duty frees in Canada have seen as much as an 80% decrease in sales since Trump's return to the White House. Most stores have seeing a 50-60% drop in business. "We're 100% reliant on the travel across the border," she says of duty frees. "Our stores are often pillars of these communities - communities depend on them." And while the crossing at Port Huron-Sarnia is faring better than most, on a Friday in May the parking lot of the Sarnia Duty Free is almost empty. Tania Lee, who runs the store with her family, says that has become the new norm. On Easter weekend - usually one of their busiest of the year, as Canadians take advantage of the break to stop in at a favourite restaurant and go to a church service in Port Huron - cars were few and far between, and sales were not what they should have been, she says. "We are suffering because of collateral damage at the border," Ms Lee says of her second-generation family business. She notes that people who live in border towns often cross the boundary multiple times a week. Ms Lee, for example, has a mailbox at a shipping facility in Port Huron that she visits regularly, as do her neighbours. People across the Blue Water Bridge are feeling the effects too, Mayor Anita Ashford says. She has heard from both residents of her town and Canadians frustrated about the increased tension between the nations. Nationally, a 10% drop in Canadian tourism would cost the US up to 14,000 jobs and $2.1bn (£1.56bn) in business, according to the US Travel Association. Michigan is one of the places likely to see the brunt of that impact. In 2023, Canadian visitors spent a collective $238m in the state, according to tourism officials. That money is essential for border towns like Port Huron, its mayor says. "I hope people in Washington will start to understand what they're doing to the people," she says. "We are not responsible for this, the [federal] government put us in this position and now we have to deal with it respectfully." "We need each other," she says.

A single vote in a Quebec riding has brought Canada's Liberal Party one seat closer to holding a majority in parliament. A judicial recount in the Terrebonne riding declared Liberal candidate Tatiana Auguste the victor with 23,352 votes, ahead of Bloc Québécois incumbent Nathalie Sinclair-Desgagné, who received 23,351. The result gives the Liberal Party 170 seats in the House of Commons, two seats shy of the 172 required for a majority. In a statement on social media, Auguste thanked the citizens of Terrebonne for their trust and promised to "get to work". Canada's election rules require a recount if a candidates wins by less than 0.1% of the votes cast. Officials had initially called Terrebonne for Auguste the day after the election, but during the validation process - which is when Election Canada confirms numbers but does not recount votes - Sinclair-Desgagné had taken the lead. Superior Court of Quebec Justice Danielle Turcotte oversaw the recount. Recounts are underway in three other ridings, according to the CBC. The Terrebonne result adds to the political comeback for the Liberal Party in Canada, which earlier this year seemed destined for an electoral drubbing. However, Donald Trump's return to the White House and the subsequent trade war he sparked with Canada turned the country's 28 April election into a referendum on how its leadership would deal with the United States. Prime Minister Mark Carney's Liberal Party won enough seats to form a government, but was three seats shy of an outright majority. As results stand, the Conservative Party has 143 seats, the Bloc Québécois has 22, the NDP has seven, and the Green Party holds one seat.

Canadian Prime Minister Markey Carney has said that "high level" talks are taking place with the US about joining its proposed "Golden Dome" missile defence system, aimed at countering futuristic threats. US President Donald Trump unveiled the plan for the new missile defence system on Tuesday, announcing an initial total cost of $25bn (£18.7bn). He said Canada was interested in joining the project. There are doubts from experts on how the US would deliver a comprehensive system and it is unclear how Canada would participate or how much it would pay. "It's something that we are looking at and something that has been discussed at a high level," Carney told reporters on Wednesday. Carney was asked by a reporter following a cabinet meeting on Wednesday whether Canada would join the military project, and how much it would spend. "I'm not going to put a price tag," on it at this stage, Carney began. "We are conscious that we have an ability, if we so choose, to complete the Golden Dome with investments and partnership," he said. "But I'm not sure one negotiates on this. These are these are military decisions. And we will evaluate it accordingly." Canada's openness to joining the proposed Golden Dome system comes amid ongoing trade and security negotiations between the two countries, after Trump threatened steep tariffs on Canada and said it would be better off as a US state. This galvanised a wave of national patriotism in Canada that was credited with ushering in a historic election win for Carney's Liberal government. A spokeswoman for Carney confirmed earlier that talks were due to take place on the issue. "Canadians gave the prime minister a strong mandate to negotiate a comprehensive new security and economic relationship with the United States," said Audrey Champoux. "To that end, the prime minister and his ministers are having wide-ranging and constructive discussions with their American counterparts," she said. "These discussions naturally include strengthening Norad [North American Aerospace Defense Command] and related initiatives such as the Golden Dome." On Tuesday, Trump said that Canada has expressed interest in being part of the Golden Dome. "We'll be talking to them," the US president said. "They want to have protection also, so as usual, we help Canada." Trump said that the new Golden Dome defence missile programme would be operational by the end of his time in office, and that it would cost $175bn. He added that he his administration is looking for Canada to "pay their fair share." But the non-partisan Congressional Budget Office has estimated the eventual price tag could be $542bn over 20 years, on the space-based parts of the system alone. Canada and the US already partner on Norad - a system that is responsible for aerospace and maritime surveillance, warning and defence of the region, and that can detect and shoot down cruise missiles. Norad has been in place since 1958, and both countries in recent years have been engaged in discussions to modernise it. Trump said the proposed Golden Dome is meant to target increasingly sophisticated aerial weapons, including hypersonic missiles, and will include space-based sensors and interceptors. He said the system would be "capable even of intercepting missiles launched from the other side of the world, or launched from space". It is partly inspired by Israel's Iron Dome, which the country has used to intercept rockets and missiles since 2011. Experts have expressed doubts on whether the US would be able to build a similarly comprehensive defence system, given its larger land mass. Shashank Joshi, defence editor at the Economist, told the BBC that one way the Golden Dome could work was by using thousands of satellites to spot and track missiles and then use interceptors in orbit to fire at the missiles as they take off and take them out. He said the US military would take the plan seriously but it was unrealistic to think it would be completed during Trump's term, and the huge cost would suck up a large chunk of the US defence budget.

HONG KONG — The United States and China announced a 90-day pause on most of their recent tariffs on each other, fueling hopes on Wall Street of a cooldown in the trade war between the world's two largest economies. The combined U.S. tariff rate on Chinese imports will be cut to 30% from 145%, while China’s levies on U.S. imports will fall to 10% from 125%, the countries said early Monday morning. Officials met in Geneva over the weekend for their first face-to-face talks since President Donald Trump's shock tariff rollout on April 2, when he imposed 84% duties on Chinese imports, adjusted them to to 125% soon afterward, and hiked them further to 145% a day later. The new 30% rate is the sum of the 20% duty Trump imposed early in his second term over alleged Chinese failures to curb fentanyl flows and the 10% universal tariff he has applied to nearly all foreign imports. Markets surged on news of the detente. The broad-based S&P 500 was trading 3.1% higher Monday afternoon, and the Dow Jones Industrial Average added more than 1,100 points, a roughly 2.7% gain. The tech-focused Nasdaq surged 4.1%. European indexes posted modest gains Monday. Markets across Asia had upbeat sessions as well ahead of the news, anticipating some kind of trade agreement and also welcoming a ceasefire between India and Pakistan that largely seems to be holding. Hong Kong’s Hang Seng Index soared on news of the U.S.-China agreement, closing more than 3% higher. Yet some analysts have urged caution, noting that tariffs remain far higher than before Trump regained office. That suggests many consumer goods — from cars and groceries to fireworks — are set to see price hikes. Federal data is set to provide a fresh inflation snapshot on Tuesday morning. “The full set of U.S. tariffs would still be considerably higher and broader than expected by markets at the start of the year,” Goldman Sachs analysts wrote in a note to clients Monday, noting that the 90-day countdown “should keep uncertainty high for both investors and businesses.” The U.S.'s effective tariff rate would now be 17.8%, the highest since 1934, which Yale Budget Lab researchers estimated Monday would dent households' annual purchasing power by $2,800. The United States has a larger goods trade deficit with China than with any other country, and Trump has often accused it of “ripping off” the U.S. through unfair trade practices. Unlike other U.S. trading partners, Beijing responded by imposing retaliatory tariffs and other countermeasures that escalated into a dizzying game of one-upmanship. The dueling import taxes were “the equivalent of an embargo,” which neither side wanted, said Treasury Secretary Scott Bessent. “We do want trade, we want more balanced trade, and I think that both sides are committed to achieving that,” he said. Bessent, who represented the U.S. in the talks with Beijing along with Trade Representative Jamieson Greer, rejected suggestions that negotiating right away would have been more productive than triggering a tariff spat that caused global financial turmoil, saying that a “business as usual” effort to rebalance trade would not have worked. The U.S. and China now have “a mechanism to avoid the upward tariff pressure,” Bessent told CNBC Monday. “I would imagine that in the next few weeks we will be meeting again to get rolling on a more fulsome agreement,” he added. Greer noted that separate discussions on fentanyl were “on a very positive track.

Global technology and chip stocks rallied on Monday after the U.S. and China agreed to pause most tariffs on each other’s goods. Technology stocks — such as semiconductor firms and smartphone makers — have been hit hard as trade tensions between the world’s two largest economies threatened to disrupt supply chains and hurt some of the biggest U.S. businesses. But investors breathed a sigh of relief after talks between the U.S. and China over the weekend yielded a temporary pause in “reciprocal” tariffs. In the U.S., Nvidia, which still faces a number of restrictions on the chips it is allowed to ship to China, was around 4% higher in premarket trade, while AMD was up 5%. Broadcom was also around 5% higher, along with Qualcomm. Other companies in the semiconductor supply chain also jumped. Marvell, which last week postponed a previously scheduled investor day due to macroeconomic uncertainty, surged 7.5% in premarket trade. Taiwan Semiconductor Manufacturing Co., the world’s largest chipmaker, saw its U.S.-listed shares jump around 4% in the premarket. TSMC’s Taiwan-listed stock closed before the tariff announcement. In Europe, ASML, a supplier of critical machinery required to manufacture the most advanced chips, rallied 4.5% in early trade. Infineon was also sharply higher. Semiconductors and some electronics received an exemption from President Donald Trump’s reciprocal tariffs last month, but the U.S. signaled the reprieve was temporary and that these products could still be in line for special duties. Investors have been concerned about the impact on major tech stocks, especially those with exposure to China such as Apple and Amazon, whose shares have been under pressure this year. Apple, which still makes 90% of its iPhones in China, said during its earnings report this month that it expects tariffs will add $900 million to its costs for the current quarter. Apple shares were more than 6% higher. Amazon was up more than 8% in premarket trade Monday. Many sellers on Amazon rely on Chinese products. U.S.-listed Chinese tech stocks also surged. Chinese e-commerce giants Alibaba and JD.com were higher, alongside internet firm Baidu. “With US/China clearly on an accelerated path for a broader deal we believe new highs for the market and tech stocks are now on the table in 2025 as investors will likely focus on the next steps in these trade discussions which will happen over the coming months,” Daniel Ives, global head of technology research at Wedbush Securities, said in a note on Monday. “This morning is a huge win for the bulls and a best case scenario post this weekend in our view.”