"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."
"So I would expect that the threat of the 100% has gone away, as has the threat of the immediate imposition of the Chinese initiating a worldwide export control regime, Bessent said. He separately told ABC News he believed China would delay its rare-earth restrictions for a year while they reexamine it. Bessent telegraphed a wide-ranging agreement between Trump and Xi that would extend a tariff truce, resolve differences over the sale of TikTok."
Top trade negotiators for the US and China reached a preliminary consensus on export controls, fentanyl, and shipping levies after two days of talks in Malaysia. US Treasury Secretary Scott Bessent said the threat of 100% tariffs is effectively off the table and that the US will maintain its export controls. China is expected to make substantial soybean purchases and to defer sweeping rare-earth restrictions for about a year while they reexamine them. Negotiators signaled a potential wide-ranging agreement to extend a tariff truce, resolve the TikTok sale, and preserve the flow of rare-earth magnets critical for semiconductors and jet engines. Leaders are planning to discuss a global peace plan, including Russia's war in Ukraine.
Read at wirehub.medianewsgroup.com
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