A global selloff in longer-dated bonds has finally spilled over into Chinese debt, as easing US trade tensions and Beijing’s efforts to tackle deflation damp demand for the notes.

The U.S. and China have reached an agreement — again — to deescalate trade tensions. China is making it easier for U.S. companies crucial magnets and rare earths materials.

Trump administration has slapped additional 30 per cent tariffs on China since the trade war began. Read more at straitstimes.com. Read more at straitstimes.com.

Under a 2014 deal, called the Enhanced Defence Cooperation Agreement, or EDCA, the U.S. military has access to Philippine bases and sites for joint training and for facilities such as runways, fuel storage and troop housing. The agreement was expanded in 2023 to allow the United States access to nine locations, up from five before.

The remarks by Trump were made as he was hosting Philippine President Ferdinand Marcos Jr., where the US president praised a “fantastic military relationship” with Manila.

The Chinese commerce ministry said on Friday that Beijing and Washington had stepped up efforts to implement what they had agreed during recent trade talks but cautioned the U.S. against destabilising their "hard-won" consensus.

President Trump has hinted at a forthcoming visit to China to potentially reset US-China relations. A summit with President Xi Jinping is anticipated to stabilize the turbulent relationship marked by past trade disputes.