Overview

• Scott Bessent confirmed plans for a Trump–Xi meeting at APEC in South Korea and said the announced 100% tariff on Chinese goods set for November 1 “does not need to happen” if talks progress.
• Fresh U.S. criticism of Beijing’s new rare‑earth export limits—described by Bessent as a “bazooka” aimed at free‑world supply chains—revived risk aversion after Monday’s relief rally.
• Wall Street futures fell on Tuesday with tech leading losses as investors awaited comments from Fed chair Jerome Powell and assessed early bank earnings.
• IMF managing director Kristalina Georgieva warned that equity valuations, particularly in AI‑linked stocks, look stretched and vulnerable to a sharp correction, with the GFSR and WEO set to dominate the Washington agenda.
• Brazil’s finance minister Fernando Haddad said he will present proposals this week to expand climate financing and reform multilateral development banks ahead of COP30.