This week's U.S.-China trade talks in Spain led to a framework for a TikTok deal and a consensus on anti-money laundering collaboration. Statements from government officials signaled a positive outcome from the meeting.

China’s export control measures also came up during the trade talks. July data shows a significant rebound in the country's exports of rare earths and derivative products.

On the other hand, there were also some new signs of conflict, as MOFCOM launched an anti-dumping investigation on U.S. analog chips and an anti-discrimination investigation into U.S. measures in the semiconductor sector, and reached a preliminary ruling that Nvidia violated China’s antitrust laws.

China and Canada also held bilateral meetings, demonstrating a bit of positive momentum after a period of various trade conflicts. However, a lasting resolution to the conflicts may be hard to achieve in the near term.

Mexico proposed raising tariffs on over 1,400 products, drawing a rebuke from China.

Officials from the UK and China also met to talk about trade issues for the first time in years, delivering some deals on expanding market access for British goods and agreeing on establishing new communication channels.

In the courts, a U.S. decision resulting in retroactive tariff collection on imports of solar products made by Chinese companies in several Southeast Asian nations has been appealed. In another case, a judge dismissed an $11.5 billion claim against the government of China based on bonds issued by predecessor governments from 1898 to 1913.