President Donald Trump's eventful week included securing a preliminary trade deal with China, deploying National Guard troops to Los Angeles, and responding to Israel's strikes on Iran.

United States and Chinese officials said they had agreed on a framework for a trade truce, which removed China's export restrictions on rare earths.

The US and Vietnam are closing in on a framework trade agreement, despite ongoing concerns about Chinese goods being rerouted through the Southeast Asian nation to avoid tariffs, according to people familiar with the talks.

Iraq has officially reopened the Qaim border crossing with Syria for trade and passenger traffic, a spokesman for the Iraqi border authority said on Saturday, marking a key step in efforts to normalise relations and revive economic ties between the two countries.

U.S. stocks closed lower as investors assessed little progress on trade talks, after jumping in the morning on a cooler-than-expected inflation reading. The Dow Jones Industrial Average fell 1 point to close at 42,865.77, while the S&P 500 Index lost 16.51 points to settle at 6,022.30. The Nasdaq Composite was down 99.11 points, 0.5%, to 19,615.88

The U.S.-China talks on trade resemble arms-control negotiations, with export controls being the key weapons in each side’s arsenal.

Japan and the U.S. on Friday explored the possibility of a trade agreement, Japan's top tariff negotiator, Ryosei Akazawa, told a briefing, while refraining from commenting how close they are to reaching a deal.