Source: BBC
The United States and China have agreed on the framework of a potential trade deal — to be discussed when their leaders meet later this week.
US Treasury Secretary Scott Bessent told CBS the agreement includes a final deal on TikTok’s US operations and a deferral of China’s tightened controls on rare earth minerals.
Bessent also said he does not expect the 100 percent tariff on Chinese goods threatened by US President Donald Trump to take effect — and confirmed that China will resume major soybean purchases from the US.
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Both sides say the move aims to ease tensions and prevent further escalation in the ongoing trade war between the world’s two largest economies.
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