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The U.S. is pushing forward on President Trump’s pledge to pause penalties aimed at China’s shipbuilding industry, a key concession in his interim trade pact with counterpart Xi Jinping.

A decision against Trump could force more than $100 billion in refunds and remove a major burden on the U.S. importers that are paying the tariffs.

The country’s Finance Ministry confirmed it would end tariffs imposed March 4 on soybeans and other U.S. agricultural products including corn, wheat, sorghum and chicken, effective Nov. 10.

The administration is trying to defend the tariffs after lower courts ruled the emergency law Trump invoked doesn’t give him near-limitless power to set and change duties on imports.

The U.S. imposed a 25% tariff on British steel and 10% on the spirit — levies that remain in place despite the U.K. being the first country to reach a trade agreement with Trump.

Wheat futures in Chicago jumped as China seeks its first U.S. shipments of the grain in more than a year, following orders for soybeans last week as part of a trade truce between the two nations.

Canadian Prime Minister Mark Carney said he told Ontario's premier not to run an anti-tariff advertisement that prompted U.S. President Donald Trump to end trade talks with Canada.

Trump had said he wanted to take the highly unusual step of attending the arguments in person, but on Nov. 2 said he had ruled it out, saying he didn't want to be a distraction.

Asked by reporters aboard Air Force One whether negotiations between the White House and Carney’s government would resume, Trump said: “No, but I have a very good relationship."

After months of posturing, arguing and threatening, U.S. President Donald Trump and Chinese leader Xi Jinping have essentially turned back the clock.