US EditionUS, China reach ‘framework’ of trade deal, Bessent says
- U.S. and Chinese officials reached a framework at the ASEAN Summit in Kuala Lumpur to delay tariffs and rare-earth export controls, Scott Bessent said.
- After China tightened rare-earth export restrictions Oct. 9 just ahead of the Trump-Xi summit, global supply chains faced fresh pressure as the world lacks ready productive capacity, analysts say.
- Data show China controls more than 90 of the world's rare‑earths, and officials say Beijing bought none of the September soybean harvest but may revive purchases.
- Bessent said the talks left punishing triple-digit levies off the table, while Li Chenggang confirmed a preliminary consensus and said proposals will go through internal approval processes next.
- The framework extends beyond tariffs to include TikTok transfer to U.S. ownership and cooperation on fentanyl and precursor chemicals, but analysts warn its durability is uncertain.
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411 Articles
Winnipeg Free Press
The Latest: Trump and China’s Xi have met face-to-face to try to solve months of trade tensions
Breaking News, Sports, Manitoba, Canada
US, China edge toward fragile truce ahead of Trump-Xi meeting
The United States and China have reached a tentative framework to avert a renewed escalation in their long-running trade dispute, with both sides signaling readiness for compromise ahead of a planned meeting between the two countries’ top leaders. US President Donald Trump and Chinese President Xi Jinping will meet face-to-face on the sidelines of the […] The post US, China edge toward fragile truce ahead of Trump-Xi meeting appeared first on As…
News 4 San Antonio
US, China reach a 'framework' trade agreement before Trump-Xi meeting
The U.S. and China took another step forward to deescalate the most recent spat in a back-and-forth trade war.
The U.S. stock market began the week up, driven by promising signs that the long-awaited meeting between President Trump and Chinese leader Xi Jinping, at the end of this week, could culminate in a meaningful trade deal.The Nasdaq Composite (^IXIC) technology led the profits with a strong advance of 1.5%. The S&P 500 (^GSPC) jumped by 0.9%, and the Dow Jones Industrial Average (^DJI) moved approximately 0.6% upwards.
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