China has agreed to buy 12 million metric tons of soybeans this year, Treasury Secretary Scott Bessent said, providing some relief to US farmers who have anxiously awaited the resumption of exports to the Asian nation.

President Donald Trump’s administration has agreed to a yearlong delay of a sanctions framework that would have dramatically expanded the number of Chinese companies subject to US trade restrictions, part of a broader agreement that saw Beijing punt its latest escalation of rare-earth export controls.

Estée Lauder Cos.reported profit that surpassed Wall Street’s expectations, a sign the cosmetics company’s turnaround efforts are starting to pay off despite rising costs.

Stellantis NV said it expects one-time charges in the second half of the year as political, economic and regulatory pressures force the automaker into making strategic changes.

Luis García’s orchard is on the outskirts of Morelia, a city in the heart of central Mexico’s avocado belt, but its fortunes are tethered to consumers thousands of miles away in the US.

Mexico’s economy contracted slightly in the third quarter, a sign that President Claudia Sheinbaum’s plans to stimulate growth despite simmering trade tensions with the US are falling short, reigniting concern of a recession this year.