US and China Agree on Trade Framework Ahead of Xi-Trump Summit
In a significant development, the US and China have reached a framework agreement for a trade deal just days before a crucial meeting between President Donald Trump and Chinese President Xi Jinping. The agreement is seen as a major breakthrough in the ongoing trade tensions between the two economic superpowers.
The framework agreement was forged on the sidelines of the Association of Southeast Asian Nations (Asean) summit in Malaysia, where Trump arrived earlier this week for his five-day Asia tour. According to Treasury Secretary Scott Bessent, the agreement removes the threat of imposing 100% tariffs on Chinese imports set to start on November 1 and includes a "final deal" on the sale of TikTok in the US.
China's top trade negotiator, Li Chenggang, described the agreement as a "preliminary consensus," stating that both sides had reached an understanding after intense consultations. The agreement is expected to address concerns raised by the US, including China's export controls on minerals used in fighter jets, smartphones, and electric vehicles.
The framework agreement comes after months of escalated trade tensions between the two countries, triggered by Trump's tariff announcements outside the White House in April. The US imposed tariffs on Chinese goods worth $50 billion, which China responded to with its own tariffs on $34 billion worth of US imports.
In a significant twist, Beijing had previously imposed controls on exports of rare earth minerals, including magnets used in electronic windows and boot openings in cars. However, the new agreement is expected to address this issue as well.
The trade deal has significant implications for global trade, reducing the risk of an all-out trade war that threatened car production across Europe and the UK. The agreement also brings relief to US soybean farmers, who had been facing a significant decline in exports due to Chinese sanctions.
Brazil, which has been caught in the middle of the US-China trade tensions, is also expected to benefit from the new agreement. President Luiz Inácio Lula da Silva described his meeting with Trump as "positive," and both sides agreed to pause punitive actions against each other while their teams discuss tariffs and other issues.
The agreement comes ahead of Thursday's summit between Xi Jinping and Donald Trump in South Korea, where the two leaders are expected to discuss the framework agreement. With just days to go before their current tariff truce was due to end, both sides appear to be moving towards a more constructive dialogue.
In a significant development, the US and China have reached a framework agreement for a trade deal just days before a crucial meeting between President Donald Trump and Chinese President Xi Jinping. The agreement is seen as a major breakthrough in the ongoing trade tensions between the two economic superpowers.
The framework agreement was forged on the sidelines of the Association of Southeast Asian Nations (Asean) summit in Malaysia, where Trump arrived earlier this week for his five-day Asia tour. According to Treasury Secretary Scott Bessent, the agreement removes the threat of imposing 100% tariffs on Chinese imports set to start on November 1 and includes a "final deal" on the sale of TikTok in the US.
China's top trade negotiator, Li Chenggang, described the agreement as a "preliminary consensus," stating that both sides had reached an understanding after intense consultations. The agreement is expected to address concerns raised by the US, including China's export controls on minerals used in fighter jets, smartphones, and electric vehicles.
The framework agreement comes after months of escalated trade tensions between the two countries, triggered by Trump's tariff announcements outside the White House in April. The US imposed tariffs on Chinese goods worth $50 billion, which China responded to with its own tariffs on $34 billion worth of US imports.
In a significant twist, Beijing had previously imposed controls on exports of rare earth minerals, including magnets used in electronic windows and boot openings in cars. However, the new agreement is expected to address this issue as well.
The trade deal has significant implications for global trade, reducing the risk of an all-out trade war that threatened car production across Europe and the UK. The agreement also brings relief to US soybean farmers, who had been facing a significant decline in exports due to Chinese sanctions.
Brazil, which has been caught in the middle of the US-China trade tensions, is also expected to benefit from the new agreement. President Luiz Inácio Lula da Silva described his meeting with Trump as "positive," and both sides agreed to pause punitive actions against each other while their teams discuss tariffs and other issues.
The agreement comes ahead of Thursday's summit between Xi Jinping and Donald Trump in South Korea, where the two leaders are expected to discuss the framework agreement. With just days to go before their current tariff truce was due to end, both sides appear to be moving towards a more constructive dialogue.
! finally some progress on the trade front, i'm tired of all the drama between US and china 
it's like they're two kids in a sandbox not playing nice 
but seriously if they can come to an agreement like this it's a win-win for everyone 
especially the soybean farmers back in the states they've been struggling big time 
so yeah let's keep the peace and hope this deal holds up 
It's almost like the whole thing was a big show to distract us from something else. But seriously, what about all the other issues they didn't address? Like, what about human rights in Xinjiang or the whole TikTok security thing? I'm not saying it's a bad deal or anything, but let's not get too excited just yet 
this trade deal between US and China is literally the biggest news ever! i mean, think about it - no 100% tariffs on Chinese imports anymore, and a "final deal" on TikTok's sale in the US... that's some serious progress 
. and let's not forget about Brazil getting relief from all this drama 
. i'm low-key relieved that there won't be an all-out trade war that could've ruined car production across Europe 
. fingers crossed that both sides can make it work 
. xi-trump summit in south korea is gonna be lit 
!
So the US and China have agreed on a trade deal thingy? 
I'm not convinced though 
What makes us trust that this deal won't just be a bunch of hot air? 
And don't even get me started on TikTok 
And what about all the other countries caught in the middle? Like Brazil, for example. They're just trying to do business, you know? 
Anyway, I guess it's a good thing they were able to come together and find some common ground. Fingers crossed it holds up 
I mean, can't we just stick to what we know works? This whole "framework agreement" thing sounds like just another way for the big powers to paper over their differences without actually making any real changes.
like, no more threats of 100% tariffs on Chinese imports? that's a major win for US soybean farmers and car manufacturers in Europe/UK... 
but at the same time, China got some concessions too, like on those rare earth minerals they were controlling exports of... 
so yeah, it looks like both sides are moving towards a more constructive dialogue, which is good news overall... 
what about the future though? will we just keep having these back-and-forth deals or do we finally have some real progress?? 
. Think about it, the US and China are just agreeing on some framework now, but when that Trump-Xi summit comes around, what if there's a last-minute twist? Maybe China gets some sweet deals on minerals or technology, and then suddenly they're in a better position to counterbalance the US? Or maybe the US is just trying to distract everyone from their own internal issues while they get away with some shady business deals 
Plus, they're addressing those export controls on rare earth minerals... game changer! 
Who's with me?! 
it's all about removing tariffs on Chinese imports and making sure china doesn't impose 100% tariffs on us goods 
. I know some people were worried that we'd be heading towards a full-blown trade war, but it looks like those tensions are finally easing up 
.
. And let's not forget about Brazil 
. Let's keep our fingers crossed that the summit between Xi Jinping and Donald Trump goes smoothly and we see some real progress on trade 
!
the only thing i'm worried about now is how this is all gonna play out at the summit... will they actually follow through on their promises or just stall some more? 
we'll have to wait and see, but for now, it's definitely a positive step in the right direction 
. Now we just gotta wait and see what Xi and Trump come up with at their summit this week... hopefully it's something good 
. Now that we've got this framework agreement, it's like the whole world can breathe a sigh of relief... I mean, except maybe Brazil 
. Anyway, fingers crossed it all holds up and we don't have to deal with any last-minute drama before the Xi-Trump summit on Thursday 
.
. I just hope this new agreement holds up and we can avoid another trade war