Trump is in South Korea, the final stop of his Asia tour, where he says he expects to nail down a "good deal for both" China and the U.S. with Xi Jinping.

MP Materials has experienced a nearly 10% decline in its stock price over the last five days and is down approximately 30% from its peak on October 14.

KUALA LUMPUR, Malaysia -- A trade deal between the United States and China is drawing closer, officials from the world’s two largest economies said Sunday as they reached an initial consensus for President Donald Trump and Chinese leader Xi Jinping to aim to finalize during their high-stakes meeting.

US and Chinese officials have reached a framework agreement, averting a potentially ruinous 157% tariff on Chinese goods while paving the way for a potential trade deal to be discussed between President Donald Trump and Chinese leader Xi Jinping later this week.

President Trump told reporters as he flew into Japan that he expects to have a trade agreement with China finalized by the end of his tour of Asia.

China has signed an expanded free trade agreement with the Association of Southeast Asian Nations. Premier Li Qiang has promoted economic ties with Beijing as an alternative to U.S. protectionist policies.

Soybean prices reached a 15-month high Tuesday as the commodity, which makes up the U.S.’ largest agricultural export, is embroiled in the trade war between the U.S. and China that’s affecting American farmers. Soybean prices have risen more than 11% since July last year as the crop has become a major tool in U.S.-China trade negotiations.

Global stocks rallied on Monday to a fresh intraday record while the dollar eased on optimism that a potential trade deal was on the horizon between China and the U., as investors awaited a slew of central bank policy announcements and earnings from several megacap companies.