BUSINESS

US, China Set Trade Framework Before Leaders Meeting

Chinese and U.S. negotiators said they reached a framework for a trade deal, advancing talks in Kuala Lumpur ahead of an expected meeting between President Trump and Xi Jinping this week. Chinese officials described the discussions as candid and in-depth, covering tariffs, export controls, rare earths, fentanyl-related measures, and steep port fees on ships. Officials discussed extending a tariff truce; Treasury Secretary Scott Bessent called the framework “very substantial,” expects a deferral on China’s rare earth controls, and said the framework includes benefits for U.S. farmers. Beijing signaled domestic approvals lie ahead. No final agreement has been announced.

Reviewed by JQJO team

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