Both nations pledged to cut their broad, ballooning tariffs after weekend talks. US tariffs dropped to 30% from 145%, while China’s moved to 10% from 125%, per a joint statement

Tamer-than-expected inflation and a significant de-escalation of a U.S.-China trade war are easing fears of a sharp squeeze on American households and businesses in coming months, prompting Wall Street firms to pare predictions of a recession and giving the Federal Reserve room to leave interest rates where they are.

The deal, outlined in a Brazilian government document viewed by Reuters, underscores Brazil's push to strengthen agricultural ties with China as President Luiz Inácio Lula da Silva visits the country, and as rising domestic DDG production fuels the search for alternative markets.

China’s big appetite for the small, green “happy nuts” drives nearly a third of the $3 billion U.S. crop, centered in California.

Farm country voted heavily for Donald Trump last November. Now many farmers are taking a wait-and-see attitude toward the Republican president’s disputes with China and other international markets.

Gold sold off in Asian morning trading on Monday after progress was reported between the US and China during weekend trade talks. Bullion fell 1.8 per cent to $3,265 per troy ounce following meetings between US Treasury secretary Scott Bessent and Chinese vice-premier He Lifeng in Geneva over the weekend.

Asian shares advanced Tuesday after China and the United States announced a 90-day truce in their trade war, but the gains were tempered by uncertainties over the longer term, as analysts warned President Donald Trump’s policies could still quickly change.