Brussel's envoy to Beijing said that "the situation is not improving" during candid remarks on trade ties Friday.

Austan D. Goolsbee, president of the Chicago Fed, said there was still a risk of higher consumer prices and slower growth amid elevated uncertainty about the White House’s trade policy.

Chinese leader Xi Jinping has taken aim at “bullying” and “hegemonism,” in his first public remarks since a temporary truce over tariffs was agreed in the trade war between the United States and China.

The agreement reached this weekend is an acknowledgment that a full-on economic divorce of the U.S. and China would be too painful for both sides.

BEIJING (Reuters) -China will lower its tariffs on U.S. goods to 10% for an initial 90 days starting from 12:01 pm (0401 GMT) on Wednesday, Chinese finance ministry said in a statement on Tuesday.

Meituan will invest $1 billion over five years to start and expand a food delivery service in Brazil, as Luiz Inacio Lula da Silva hopes to transform the country’s commodities-reliant economy with help from China.

Former Trump advisor Stephen Moore said the market rebound that came as China and the U.S. agreed to a 90-day pause on massive tariffs could signal the start of a financial revolution.

Oil prices had plunged the lowest level in four years earlier this month as President Donald Trump's global tariff regime raised the risk of a recession that would slow demand. The lower tariff rate will remain in place for 90 days as the world's two largest economy continue to negotiate,