Trade deals are driving the recovery for U.S. stocks with the S&P 500 erasing all of its losses post Liberation Day. President Trump continues his Middle East trip striking partnerships and investments,

President Donald Trump said Monday the tariffs against China would "go up substantially higher" than 145% if a longer-term trade deal is not reached before 90 days.

US and Chinese officials said they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war for more talks on resolving their trade disputes.

Shares of many companies that source at least some of their goods from China are surging on Monday as U.S. and Chinese officials announced that they had reached a deal to roll back most of their recent tariffs and called a 90-day truce in their trade war to allow for more talks on resolving their trade disputes.

The Trump administration says it intends to develop a 'mechanism' that will 'rebalance' the U.S. trade relationship with China — a task that has eluded presidents for decades.