US futures jump as Trump holds off China tariffs

Relief that Donald Trump will hold off from imposing China-specific tariffs on his first day in office propelled US equity futures higher on Monday. The dollar slumped. The new administration has pivoted toward starting his second term with potential engagement with Beijing rather than another trade war. Trump plans to issue a broad memorandum that directs federal agencies to study existing trade policies and relationships with China, Canada and Mexico, the Wall Street Journal reported earlier Monday.