BUSINESS

US and China agree framework of trade deal ahead of Trump-Xi meeting

The US and China have agreed a substantial framework for a potential trade deal ahead of Thursday’s Trump–Xi talks in South Korea, US treasury secretary Scott Bessent said. He said the package includes a final agreement on TikTok’s US operations, a one‑year deferral of China’s tightened rare‑earth export controls, and a resumption of substantial Chinese soybean purchases. Bessent said he does not expect the threatened 100% US tariff on Chinese goods to take effect, adding “the tariffs will be averted.” Beijing called recent discussions “constructive” and said both sides reached basic consensus while finalising details.

Reviewed by JQJO team

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