U.S. Economic Indicators

The U.S. trade deficit decreased from $55.7 billion in October (revised) to $49.3 billion in November. The goods deficit fell $6.7 billion while the services surplus decreased $0.3 billion. Census Bureau Report

U.S. News

The Wall Street Journal reports that the U.S.’ chief trade negotiator, Robert Lighthizer, and Treasury Secretary Steven Mnuchin will travel to Beijing early next week to continue trade talks as the March 1 deadline to reach an accord approaches. In previous talks, the Chinese agreed to broaden areas for discussion to include items China previously would not negotiate on for national security reasons. WSJ

According to the Wall Street Journal, OPEC is backing a partnership with a group of 10 nations led by Russia, attempting to manage the global oil market with a pact that would transform the cartel. The pact would formalize the loose union between OPEC countries and the group led by Russia, which includes former Soviet states and Mexico, and the partnership could ultimately benefit the U.S. oil industry. WSJ