China has agreed to scale back tariffs on imported US cars, President Donald Trump said Sunday, one day after agreeing with Xi Jinping to a ceasefire in the trade war between the world's top two economies.

U.S. President Donald Trump and China's Xi Jinping have agreed to suspend any new tariffs in the escalating trade war between the world's two largest economies, even if huge existing duties will remain in place.

Iran said Saturday it had finalised a deal with South Korea to trade oil for goods, skirting renewed US sanctions.

President Donald Trump said Friday that there are "good signs" ahead of talks with his Chinese counterpart Xi Jinping on resolving their countries' heavyweight trade war.

"There's some good signs, we'll see what happens," the U.S leader said in Buenos Aires, where he was attending the Group of 20 summit and was to have dinner with Xi on Saturday.

Economists and investors have been scratching their heads this week over signals from the Federal Reserve, which left the future of U.S. monetary policy open to broadly divergent interpretations.

President Nicolas Maduro on Thursday increased Venezuela's minimum wage by 150 percent, the sixth readjustment this year, as part of an economic reform plan that has failed to curb rampant inflation.

A Tokyo court on Friday extended the detention of former Nissan chief Carlos Ghosn, after his arrest on allegations of financial misconduct that have shaken the auto industry.

Nissan's former chairman Carlos Ghosn signed secret documents instructing aides to defer part of his salary without disclosing this to shareholders, a source close to the issue claimed Thursday.

President Vladimir Putin said Wednesday that Russia had no choice but to cut its dependency on dollars to conduct trade, after becoming the target of increasingly severe U.S. sanctions.

The labourers edge their way across a field of bright purple flowers gathering up the world's most expensive spice, a bounty that makes this dusty corner of Iran a crucial part of global cuisine.