Wall Street surged on Tuesday after the U.S. Trade Representative office said it would delay tariffs on some Chinese goods to Dec. 15.

The Dow rose 450 points, or 1.7%, by 10:19 AM ET (14:19 GMT), while the S&P 500 gained 51 points, or 1.7%, and the Nasdaq Composite was up 174 points, or 2.2%.

The office determined that tariffs on certain articles would be delayed until Dec. 15, including "cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing," the USTR said in press release.

Tensions between the U.S. and China have escalated over the last few weeks, as U.S. President Donald Trump said he would increase tariffs on Chinese goods on Sept. 1.

Source : Investing.com