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Global Markets: China and U.S. reach trade truce

By Commodity News Service Canada

WINNIPEG, Dec. 3 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– China and the United States reached a tentative truce on trade over the weekend, with the two countries agreeing to hold off on placing additional tariffs on each other for 90 days while negotiations take place. U.S. President Donald Trump tweeted that China had agreed to “reduce and remove tariffs on cars” and also tweeted that farmers will benefit from a deal with China.

– Qatar has announced that it will leave OPEC in January. The country has been a member since 1961, but is a relatively small oil producer and intends to focus on natural gas production. A number of nearby countries have already boycotted Qatar due to the state’s alleged links to terrorism.

– Canadian astronaut David Saint-Jacques and two other astronauts from the U.S. and Russia launched from Kazakhstan Monday morning, headed to the International Space Station. Saint-Jacques is the first Canadian in space since Chris Hadfield was commander of the ISS in 2013.

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