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U.S. stock futures point higher on Tuesday; China's Finance Ministry says it will slash import tariffs on automobiles; U.S. crude oil futures rise to the highest levels in more than three-and-a-half years.
China will halve the tariff it applies to imported automobiles and parts into the world's biggest car market in the first major trade victory for U.S. President Donald Trump.
Global stocks extend gains Tuesday as investors reacted to a notable move on tariffs from China even as they returned their attention to a surging U.S. dollar and sky-high oil prices by extending bets on faster inflation in the world's biggest economy.
Global oil prices pushed higher Tuesday, sending U.S. crude to fresh three-and-a-half year highs, as a softer U.S. dollar and the threat of sanctions on Iran and Venezuela continued to boost bets on further supply restrictions.