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China is easing trade tensions with the United States. Retaliatory tariffs on American farm goods will be removed. Export controls on several US companies are also being lifted. This follows Washington's reduction of tariffs on Chinese fentanyl-related products. The moves signal a stabilization in the relationship between the two economic giants. Agricultural trade is expected to see a revival.
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News and Media
US services sector activity saw a rise in October with strong new orders. However, employment remained weak, indicating a sluggish job market. This comes amid economic uncertainty driven by import tariffs. The services sector, crucial to the US economy, showed mixed signals. The government shutdown also impacted economic data visibility.
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News and Media
The services sector accounts for more than two-thirds of US economic activity. At face value, the PMI would suggest solid economic activity at the start of the fourth quarter. But the longest government shutdown in history has caused an official economic data blackout, obscuring the economic view.
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News and Media
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