"A trade deal between the United States and China is drawing closer, officials from the world's two largest economies said Sunday as they reached an initial consensus for President Donald Trump and Chinese leader Xi Jinping to aim to finalize during their high-stakes meeting. Any agreement would be a relief to international markets even it does not address underlying issues involving manufacturing imbalances and access to state-of-the-art computer chips."
"Trump also expressed confidence that an agreement was at hand, saying the Chinese "want to make a deal and we want to make a deal." The Republican president is set to meet with Xi on Thursday in South Korea, the final stop of his trip through Asia. Trump reiterated that he plans to visit China in the future and suggested that Xi could come to Washington or Mar-a-Lago, Trump's private club in Florida."
U.S. and China reached a preliminary consensus and aim to finalize a trade agreement during a planned meeting between President Donald Trump and Xi Jinping. The framework reportedly includes commitments to curb precursor chemicals for fentanyl entering the U.S., substantial Chinese purchases of soybeans and other agricultural products, and postponement of rare earth export controls. Beijing had recently limited rare earth exports, prompting U.S. tariff threats. Treasury Secretary Scott Bessent described a "very successful framework" and said the threat of higher tariffs was "effectively off the table." Markets would welcome a deal, though underlying issues like manufacturing imbalances and chip access remain unresolved.
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