China's exports likely returned to growth in November after an unexpected dip in October, as manufacturers rushed to move inventory to take advantage of a fresh tariff truce with the U.S.
President Donald Trump on Wednesday said his administration would "reset" fuel efficiency standards for passenger cars in an effort to put a lid on rising auto prices, as the administration battles inflation and an affordability crisis.
New orders for U.S. factory goods increased less than expected in September as manufacturers remained constrained by tariffs.
The number of Americans filing new applications for unemployment benefits fell to a more than three-year low last week, allaying fears of a sharp deterioration in labor market conditions after independent surveys showed job losses in November.
U.S. trade with China needs to be balanced and probably needs to be smaller, U.S. Trade Representative Jamieson Greer said on Thursday, adding that he viewed a 25% drop in goods trade with China as heading in the "right direction."
Oil prices were largely steady in Asian trading on Friday after rising in the previous session, as stalled diplomatic progress over the Ukraine war and firm expectations of a U.S. Federal Reserve rate cut supported sentiment.