Shares of retailers jumped Tuesday after the United States Trade Representative announced it was delaying proposed tariffs on clothing, footwear and a number of other items until Dec. 15.
Additional tariffs were expected to impact a range of consumer goods effective Sept. 1. President Donald Trump announced last month that he would ratchet up the trade war with China and impose 10% tariffs on an additional $300 billion worth of Chinese goods.
The S&P Retail ETF (XRT) was up more than 3%, putting it on pace for its best day of the year.
This is breaking news. Please check back for updates.