U.S. President Donald Trump signed two executive orders Tuesday that reduce tariffs on fentanyl-related imports from China and extend a freeze on certain reciprocal levies, cementing key provisions of his trade agreement with Chinese leader Xi Jinping. Effective November 10, the tariff on fentanyl-linked imports will drop from 20% to 10%. Meanwhile, the reciprocal tariff rate on Chinese goods will remain at 10% for another year, continuing a truce that lowered the original rate from 34%. The White House described the measures as “a critical step toward stabilizing bilateral trade flows and deepening cooperation on transnational narcotics enforcement.” Officials said the fentanyl tariff cut is intended to incentivize Chinese regulators to crack down on illicit drug production and export networks fueling the U.S. opioid crisis.

Trump Finalizes Fentanyl, Reciprocal Tariff Reductions in Xi Trade Deal

The People’s Bank of China (PBoC) announced on Tuesday it resumed purchasing sovereign bonds on the open market in October, marking its first such move since December 2024. The central bank said it bought CNY 20 billion worth of government bonds last month, following remarks from its governor at a recent financial forum hinting at a restart of bond purchases. In a separate statement, the PBoC also said it would conduct CNY 700 billion of three-month outright reverse repos on November 5 to maintain liquidity in the banking system.

PBoC Resumes Bond Purchases After 10-Month Pause

The NZX 50 slipped 21 points or 0.2% to 13,585 in early trade on Wednesday, retreating for the first time in nine sessions and pulling back from a record high. Sentiment was weighed by a weak lead from Wall Street overnight amid growing concerns over stretched valuations. Locally, data showed New Zealand’s jobless rate rose to 5.3% in Q3, the highest since late 2016, while labor force participation fell to 70.3%, the lowest in nearly five years. Traders booked profits across healthcare, industrial services, and utilities ahead of China’s October trade data later this week. Rua Bioscience fell about 3% to a three-month low after announcing a discounted capital raise. Other notable decliners included Winton Land (-4.0%), Summerset Group (-1.9%), T&G Global (-1.3%), and Meridian Energy (-0.8%).

New Zealand Stocks Fall from Record High

The S&P Global Australia Services PMI Business Activity Index rose to 52.5 in October from 52.4 in September, signaling continued growth in services activity and extending the expansion streak to 21 months. Higher new sales and successful business development supported growth in both domestic and export markets, with enquiries helping to drive a third consecutive monthly rise in overseas orders. Staffing levels increased in response to rising workloads, but the rate of jobs growth eased to an eight-month low. Outstanding work declined marginally for the fifth time in six months, in part reflecting reduced capacity pressure. Input costs rose but at a softer pace, and firms lifted output charges at the slowest rate in five years as inflationary pressures eased.

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最新ニュース

Trump Finalizes Fentanyl, Reciprocal Tariff Reductions in Xi Trade Deal

PBoC Resumes Bond Purchases After 10-Month Pause

New Zealand Stocks Fall from Record High

Australia Services Activity Growth Accelerates