"Top trade negotiators for the US and China said they came to terms on a range of contentious points, setting the table for leaders Donald Trump and Xi Jinping to finalize a deal and ease trade tensions that have rattled global markets. After two days of talks in Malaysia wrapped up Sunday, a Chinese official said the two sides reached a preliminary consensus on topics including export controls, fentanyl and shipping levies."
"US Treasury Secretary Scott Bessent, speaking later in an interview with CBS News, said Trump's threat of 100% tariffs on Chinese goods "is effectively off the table" and he expected the Asian nation to make "substantial" soybean purchases as well as offer a deferral on sweeping rare earth controls. The US wouldn't change its export controls directed at China, he added."
Top US and Chinese trade negotiators reached preliminary consensus on export controls, fentanyl and shipping levies after two days of talks in Malaysia. The threat of 100% tariffs on Chinese goods is effectively off the table, and China is expected to make substantial soybean purchases and offer a deferral on sweeping rare-earth controls. The United States will maintain export controls directed at China. A wide-ranging agreement would extend a tariff truce, resolve differences over the sale of TikTok, and preserve the flow of rare earth magnets needed for semiconductors, jet engines and other advanced products. Leaders plan to discuss a global peace initiative.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]