The US and China have extended their trade truce for another 90 days, just hours before the world's two biggest economies were set to raise tariffs on imports of each other's goods. On Monday, US President Donald Trump signed an executive order to keep the pause in place until 10 November, while Beijing also announced an extension.

A last-minute Trump executive order means US businesses get a slight reprieve on tariffs. They'll continue to pay 30% versus 145% until Nov. 10 unless the US and China can reach a deal.

President Trump’s order continues a reprieve from the threat of escalating tariffs and export controls, which rocked the global economy earlier this year.