The U.S. agreed to postpone an increase in tariffs from 25% to 30% on at least $250 billion of Chinese goods, which had been scheduled for Tuesday. President Donald Trump said that the first phase of a trade deal will be drawn up within the next three weeks, and will see China purchasing between $40 billion and $50 billion of U.S. agricultural products.
However, customs data showed that China's import and export figures were worse than expected in September, with exports falling 3.2% on the year in U.S. dollar terms, while imports declined 8.5%, according to Reuters.
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