Reuters: U.S. and China Close to Trade Deal

China and the United States reached a preliminary consensus on trade issues ahead of the meeting between Trump and Xi Jinping, Reuters reports. Agreements were reached on extending the "tariff truce" and export controls.

The U.S. Treasury Secretary stated that the 100% tariff that Trump had previously threatened against China is "effectively off the table." The official expressed the expectation that Beijing, in turn, would lift export controls on rare earth metals. He also said that China would resume importing significant volumes of soybeans from the U.S. Trump and Xi Jinping will meet on Thursday, October 30, in South Korea.