Economist believes US-China tariff truce could be the start of a financial revolution

Former Trump advisor Stephen Moore said such changes could trigger a 'domino effect' 

Taylor Penley / FOXBusiness

 

Stocks soared Monday amid news of a 90-day pause on U.S.-China tariffs, and former Trump economic advisor Stephen Moore believes it could be the start of a financial revolution.

"I'm not a big tariff guy. I'm much more in favor of free trade and lower tariffs," Moore said Monday on "Varney & Co." 

However, if Trump can "pull off" his effort to strike trade deals that benefit the U.S., Moore sees justification for the method.

"It looks right now like he's succeeding," he added, pointing to stocks.

Since the dawn of his second term, Trump has imposed various tariffs on trade partners in an effort to bring these partners to the negotiating table.

China, which became targeted by Trump's most burdensome tariffs, reached a truce with the U.S. in an agreement announced Monday, signaling a 90-day cooling-off period that signals a temporary end to the longstanding trade war between the two superpowers. Read more and see video here.