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International shipping has been roiled by retaliatory port charges levied by the U.S. and China on each others’ ships in recent months, a move that pushed up freight costs.

The U.S. will also halve fentanyl-related tariffs on Chinese goods, while Beijing resumes purchases of soybeans and other American agricultural products.

Initial signals indicate the leaders are readying a pact that could see a rollback of some tariffs, fees and export restrictions threatened or implemented in recent months.

Chinese and U.S. officials reached a broad framework agreement over the weekend in Malaysia, paving the way for Chinese leader Xi Jinping and President Donald Trump to finalize a trade deal.

Agricultural trade was among a range of issues that American and Chinese negotiators said they came to terms on, setting the table for leaders Donald Trump and Xi Jinping to finalize a deal.

Any agreement would be a relief to international markets even if it does not address underlying issues involving manufacturing imbalances and access to state-of-the-art computer chips.

The Trump administration is launching a trade investigation that opens the door to new tariffs on Chinese goods, ratcheting up tensions before a highly anticipated Trump-Xi summit next week.

Canada is launching an antidumping investigation into truck body imports from China just as Prime Minister Mark Carney is trying to ease trade tensions with the east Asian country. 

President Donald Trump and Chinese President Xi Jinping will meet Oct. 30 on the sidelines of the Asia-Pacific Economic Cooperation summit, the White House announced.

China last year purchased $13 billion of U.S. soybeans — more than 20% of the entire crop — for animal feed and cooking oil, but still hasn’t booked a single shipment from this fall’s huge crop.