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The world economy is at a “pivotal juncture” as trade tensions flare, members of the IMF said in a draft statement after discussions that have been overshadowed by the trade war.

Treasury Secretary Scott Bessent said that the Trump administration is looking at multiple factors regarding China beyond just tariffs — including non-tariff barriers.

But in a private speech in Washington for JPMorgan Chase, Treasury Secretary Scott Bessent also cautioned that talks between the United States and China had yet to formally start.

China’s government has renewed export registrations for some U.S. meat plants whose eligibility was set to lapse, raising hopes that shipments won’t be disrupted.

Global oil demand is under pressure from the escalating trade war at the same time that OPEC+ is reviving output, threatening to deepen a supply surplus, the International Energy Agency said.

China will halve tariffs on some $75 billion of imports from the United States later this month, reciprocating a U.S. action and likely satisfying part of the interim trade deal.

Deere & Co. cut its profit expectations for the year as beleaguered farmers and an escalating trade war with China cut into sales.

The U.S. trade deficit widened more than forecast in September to a seven-month high as imports expanded and the merchandise gap with China hit a record amid an escalating tariff war.