Markets around the world jumped after the U.S. and China agreed to slash tariffs on each other's goods, reassuring investors about the prospects

U.S. stocks soared Monday after Washington and Beijing struck a surprise deal to dramatically cut tariffs, marking a rare moment of clarity and good news in an otherwise volatile environment.

The suspension of tariffs is pushing US importers to front-load orders from China, with shipping lines predicting an earlier-than-expected peak cargo season