Mexico’s Congress is set to vote this week on President Claudia Sheinbaum’s proposed tariffs on China, part of a broader plan to shield local producers and ease trade tensions with the US. The move is fueling expectations that it could soon make room for US tariff relief on Mexican steel and aluminum.

Secretary of State Marco Rubio said the Trump administration has endorsed the Aukus security agreement with Australia and the UK following a lengthy review of the Biden-era pact that would sell nuclear-powered submarines to Australia.

President Donald Trump signaled he could impose fresh tariffs on agricultural products, including Canadian fertilizer and Indian rice, the latest sign that protracted negotiations with two US trading partners could drag on.

Copper rose to an all-time high after China set domestic growth as its top economic priority for next year, and amid stockpiling of the metal in the US.

US consumer inflation expectations were stable in November while perceptions about job prospects improved, according to a survey from the Federal Reserve Bank of New York.

France is racing to forge a strategy to protect the country’s food industries against growing imports and to bolster exports, as it faces the prospect of the first agricultural trade deficit in almost half a century.