The United States and China have reached a preliminary framework for a trade agreement ahead of the planned meeting between US President Donald Trump and Chinese President Xi Jinping. According to US Treasury Secretary Scott Baesert, the agreement was finalized on the sidelines of the ASEAN Summit in Malaysia.
The framework removes the possibility of imposing 100% tariffs on Chinese imports starting November 1 and includes a final settlement on TikTok sales in the US. China has also committed to suspending export controls for one year on minerals used in fighter jets, smartphones, and electric vehicles.
The agreement comes after intensive discussions between US trade representatives and senior Chinese officials. It is expected to reduce the risk of a global trade war, maintain tariff pauses, restart US soybean purchases, and help balance trade deficits. The deal is also anticipated to have a positive impact on farmers and industries in both countries.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
