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The 51-47 vote, which included four Republicans, highlights economic anxiety over President Trump's tariff regime. The votes are the clearest sign yet of growing Republican unrest.

The U.S. will also halve fentanyl-related tariffs on Chinese goods, while Beijing resumes purchases of soybeans and other American agricultural products.

In their post-meeting statement, Fed policymakers on Oct. 29 repeated their assessment that “job gains have slowed” and said “risks to employment rose in recent months.”

Initial signals indicate the leaders are readying a pact that could see a rollback of some tariffs, fees and export restrictions threatened or implemented in recent months.

Trump sidestepped the question of how long he felt extending the deadline was appropriate. He said existing tariff rates were sufficient to convince car companies to move manufacturing to the U.S.

Chinese and U.S. officials reached a broad framework agreement over the weekend in Malaysia, paving the way for Chinese leader Xi Jinping and President Donald Trump to finalize a trade deal.

The Conference Board’s gauge decreased 1 point to 94.6, the lowest since April, data out Oct. 28 showed. The median estimate in a Bloomberg survey of economists called for a reading of 93.4.

American Trucking Associations Chief Economist Bob Costello warns that businesses remain hamstrung by trade policy uncertainty, and said the true impact of tariffs has barely been felt.

ATA President Chris Spear emphasized the federation's active role in this year’s regulatory changes, including in a meeting with then-presidential candidate Donald Trump last summer.

“We have achieved our goal, to make sure that conversation starts with the American people, and with their elected officials, and my goodness, it’s started all right,” Ontario Premier Doug Ford said.