US-China Trade Truce Reached After Xi-Trump Meeting

The article discusses the meeting between US President Donald Trump and Chinese President Xi Jinping in South Korea, where they reached agreements on several trade issues, including the resumption of US soybean sales to China, a short-term deal for access to rare earth minerals, and a reduction in tariffs on Chinese goods. Trump announced that China would delay its export restrictions on rare earth minerals for one year and that China would resume buying US soybeans. The two leaders also discussed other issues, including the fentanyl crisis, TikTok, and US-made chips. While Trump characterized the meeting as 'amazing' and said that a trade agreement was imminent, no formal documents were released, and the details of the agreements remain unclear.

Asian markets saw mixed performance on Friday, with Japan's Nikkei 225 hitting a record high after a trade truce between the US and China over rare earths. South Korean tech shares surged following Nvidia's announcement of expanded partnerships with Seoul, Hyundai, and Naver. However, China's manufacturing data for October disappointed, contracting more than expected due to renewed tariff pressure. The Hang Seng Index and CSI 300 fell, while Australia's S&P/ASX 200 remained flat.

Chinese President Xi Jinping urged Asian nations to maintain stable supply chains and work together during turbulent times at the Asia Pacific-Economic Cooperation (APEC) Economic Leaders' meeting. Xi emphasized the need for cooperation and reiterated his view that the world is undergoing significant changes. He met with U.S. President Donald Trump ahead of the summit, where they agreed to grant 1-year concessions on tariffs, export controls, and other issues. Xi highlighted five areas for cooperation: safeguarding the multilateral trading system, creating an open economic environment, maintaining supply chain stability, promoting green and digital trade, and fostering inclusive development. The meeting comes as China and the U.S. have been engaged in a long-standing trade war, with the U.S. seeking to reshore manufacturing and reduce its reliance on Chinese goods.

The article discusses the current state of the markets as Halloween approaches, with investors balancing potential gains and losses. It highlights the impact of Big Tech companies' capital expenditure plans on the market, with Meta's stock suffering a significant loss due to skepticism over its AI spending plans. In contrast, Amazon's strong cloud computing growth led to a 13% jump in its shares. The article also covers the recent meeting between US President Donald Trump and Chinese President Xi Jinping, which resulted in a trade truce, including tariff reductions and soybean purchases. The markets are assessing the implications of this meeting, along with the Fed's rate stance and tech exuberance. The article concludes by noting that investors are left wondering if this is the start of a holiday miracle or a nightmare before Christmas.

European markets are expected to open lower on Friday due to a mix of earnings reports and the European Central Bank's decision to hold interest rates steady. The U.K.'s FTSE 100 index is expected to open 0.3% lower, while Germany's DAX and Italy's FTSE MIB are seen around 0.2% lower. The European Central Bank held its key deposit facility rate at 2% for the third consecutive time, following a better-than-expected 0.2% growth in the euro zone economy in the third quarter. Meanwhile, global markets are assessing the meeting between U.S. President Donald Trump and Chinese President Xi Jinping, which resulted in a one-year agreement on rare earths and other critical minerals. Oil prices are set for their third monthly decline, and gold prices fell below $4,000 an ounce.

The article discusses the upcoming New York mayoral election and the potential conflict between the likely winner, Zohran Mamdani, a leftist with radical plans, and Donald Trump, the current US President, who has threatened to intervene in the city's governance. Mamdani, aged 34, is expected to win the election on November 4th with a promise to implement new social programs funded by the wealthy. Trump, on the other hand, has vowed to 'straighten out' New York by deploying more federal agents and withholding federal funds. The article highlights the contrasting visions for the city's future and the potential for a power struggle between the two leaders.

The article analyzes the outcome of a meeting between Chinese President Xi Jinping and US President Donald Trump, where Xi secured significant concessions from the US, including a 10% reduction in tariffs on Chinese goods and a halt on a new US rule that would have expanded the blacklist of Chinese companies buying sensitive American tech. The agreement also included China's commitment to increase purchases of US soybeans and agricultural products. The article suggests that Xi's strategy of using China's near-total grip on the global rare earths supply chain as leverage against the US has paid off, and that the balance of power between the two leaders has shifted in Xi's favor.

US President Donald Trump announced a 10% reduction in tariffs on Chinese imports following a meeting with Chinese President Xi Jinping in South Korea. The meeting focused on easing trade tensions between the two nations, with Xi agreeing to increase purchases of US farm goods, crack down on fentanyl exports, and pause rare-earth export controls. Trump described the outcome as a one-year framework agreement aimed at being renewed annually. The two leaders also discussed chip technology and reciprocal visits.

US President Donald Trump and Chinese leader Xi Jinping met and reached a consensus on key issues such as trade, rare earth minerals, and the war in Ukraine. However, the agreement lacks guarantees, and there are still deep-seated issues and distrust between the two nations. Trump's assessment of the meeting as a '12 out of 10' may be overly optimistic, as there are still many barriers to trade and unresolved issues, such as Taiwan's status.

Canadian Prime Minister Mark Carney is set to meet with Chinese President Xi Jinping at the Asia-Pacific Economic Cooperation forum in South Korea to reset strained relations between the two nations. The meeting comes amid a backdrop of tense relations, marked by a bitter tariff war, mistrust, and acrimony. Experts are cautiously optimistic, citing the potential for relief on Chinese tariffs and improved economic cooperation. However, they also note the challenges posed by Canada's security dependence on the US and its concerns over China's human rights record and efforts to undermine democracies. The meeting is seen as an opportunity for both countries to find common ground and improve their economic and political ties.

Chinese President Xi Jinping addressed the Asia-Pacific Economic Cooperation (APEC) leaders' meeting, calling for global cooperation to protect supply chains amidst growing uncertainty in the region. Xi emphasized the need for countries to work together, uphold the multilateral trading system, and support the open development of supply chains. He proposed that countries adhere to the principle of 'joining hands' rather than 'breaking chains' and enhance the authority and effectiveness of the multilateral trading system with the World Trade Organization at its core.

The article highlights seven news stories from the South China Morning Post, including US President Donald Trump's comments on the US-China trade war and aircraft carrier technology, as well as environmental concerns in Singapore and Johor. Trump praised his meeting with Chinese President Xi Jinping, saying it was a 'great success' and that the two countries had agreed to de-escalate their trade war. Trump also expressed his preference for steam-powered aircraft carriers over electromagnetic catapults. Meanwhile, residents in Singapore complained about the smell from industrial estates in Johor, Malaysia.

The US and China have agreed to pause their respective port fees for a year, providing temporary relief to the shipping industry amidst ongoing trade tensions. While the move is seen as a positive signal, analysts warn that the one-year suspension is insufficient to eliminate uncertainties, as maritime measures continue to be used as leverage in broader geopolitical tensions. The World Shipping Council and industry experts have welcomed the news, citing the benefits of reduced costs and increased stability for global trade.