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The day rate for a standard tanker east of the Suez Canal jumped 57% in the week to Oct. 9, as issues related to U.S. sanctions on units of China’s COSCO Shipping Corp. start to hit just as the heating season begins to boost demand.

President Donald Trump said the first day of high-level trade negotiations between the U.S. and China went “very well” and he’ll meet the top Chinese negotiator on Oct. 11.

China plans to ask the U.S. to lift sanctions on its biggest shipping company at high-level trade negotiations in Washington this week, people familiar with the matter said.

In the trade war with the U.S., China’s tariffs have targeted agricultural goods for a couple main reasons: They make up a large proportion of U.S. exports to China, but also because they strike at the heart of President Donald Trump’s base of support in farm country.

BEIJING — China demanded Washington lift newly imposed sanctions on Chinese tech companies but said Oct. 8 envoys will go ahead with a U.S. trip for trade talks despite the latest spike in tensions.

Chinese officials are signaling they’re increasingly reluctant to agree to a broad trade deal pursued by President Donald Trump, ahead of negotiations this week that have raised hopes of a potential truce.

The United States’ merchandise trade deficit with China narrowed in August as exports rose to a five-month high, a possible sign of goodwill from the Asian nation as the countries try to resolve their trade war.

Chinese firms have been snapping up U.S. soybeans this week, but don’t mistake this as a sign of buyer confidence in upcoming trade talks.

The Chinese government has given new waivers to several domestic state and private companies to buy U.S. soybeans without being subject to retaliatory tariffs, according to people familiar with the situation.

Trump administration officials have discussed offering a limited trade agreement to China that would delay and even roll back some U.S. tariffs for the first time in exchange for Chinese commitments on intellectual property and agricultural purchases, according to sources.