U.S. futures are higher as President Trump delays the trade deadline for higher tariffs. President Trump tweeted that due to progress on structural issues with China, he will delay raising tariffs that were originally scheduled for March 1st. The President also stated that if the progress continues, he and President Xi will meet to sign an agreement. European shares are also rallying on the back of potential trade progress. Automotive stocks led the charge as they are highly linked to trade policies. Prime Minister Theresa May has delayed another key vote on Brexit, now moving the next important vote to March 12, just ahead of the scheduled departure of March 29. Asian stocks closed higher, with China’s Shanghai surging over 5% on the news that President Trump will delay additional tariffs.