{"id":56078,"date":"2025-10-27T13:20:14","date_gmt":"2025-10-27T13:20:14","guid":{"rendered":"https:\/\/new.igihe.com\/us-and-china-agree-on-preliminary-trade-framework-to-ease-tensions\/"},"modified":"2025-10-27T12:56:04","modified_gmt":"2025-10-27T12:56:04","slug":"us-and-china-agree-on-preliminary-trade-framework-to-ease-tensions","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/us-and-china-agree-on-preliminary-trade-framework-to-ease-tensions\/","title":{"rendered":"US and China agree on preliminary trade framework to ease tensions"},"content":{"rendered":"

Bessent told CBS, the BBC\u2019s US news partner, that the framework includes a final agreement on TikTok\u2019s US operations and a deferral of China\u2019s tightened controls on rare earth mineral exports. He added that he does not expect the 100 percent tariff on Chinese goods threatened by President Trump to come into force, while China will resume large-scale soybean purchases from the US.<\/p>\n

Both nations are aiming to de-escalate tensions following months of uncertainty in global trade. The meeting between Trump and Xi is scheduled to take place on Thursday in South Korea, as part of the US president\u2019s Asia tour.<\/p>\n

Bessent met senior Chinese trade officials on the sidelines of the Association of Southeast Asian Nations (ASEAN) Summit in Malaysia, where both sides described their talks as \u201cconstructive.\u201d He said the countries had \u201creached a substantial framework for the two leaders,\u201d adding that \u201cthe tariffs will be averted.\u201d<\/p>\n

In a statement, China\u2019s government said both negotiating teams \u201creached a basic consensus on arrangements to address their respective concerns\u201d and that \u201cboth sides agreed to further finalise specific details.\u201d<\/p>\n

Since returning to the White House, President Trump has imposed or threatened sweeping tariffs on imported goods from several countries, arguing that they would strengthen US manufacturing and create jobs. While this approach has led to new trade agreements with countries such as the UK, it has also triggered sharp disputes with China, the largest target of US tariffs.<\/p>\n

Earlier this month, Trump announced plans to impose an additional 100 percent tariff on Chinese goods starting in November, in response to Beijing\u2019s decision to tighten controls on exports of rare earth elements minerals crucial to the production of smartphones, electric vehicles, and renewable-energy components. At the time, Trump accused China of \u201cbecoming very hostile\u201d and trying to \u201chold the world captive.\u201d<\/p>\n

China, which processes nearly 90 percent of the world\u2019s rare earth minerals, has now agreed to delay those restrictions for one year while reassessing the policy, Bessent confirmed during a separate television interview.<\/p>\n

Another key issue in the discussions is the soybean trade, a sector that has suffered since China halted imports during the height of the trade war. Bessent, himself a soybean farmer, suggested that an agreement would bring relief to US producers.<\/p>\n

\u201cI\u2019m actually a soybean farmer, so I have felt this pain too,\u201d he said. \u201cI believe when the announcement of the deal with China is made public, our soybean farmers will feel really good about what\u2019s going on for this season and the coming seasons for several years.\u201d<\/p>\n

The proposed trade framework signals a potential turning point in relations between the world\u2019s two largest economies, which have been locked in tariff battles and technology disputes since Trump\u2019s return to office.<\/p>\n

\"The<\/figure>\n","protected":false},"excerpt":{"rendered":"

The United States and China have agreed on the framework of a potential trade deal that will be discussed later this week when President Donald Trump meets Chinese President Xi Jinping, according to US Treasury Secretary Scott Bessent.<\/p>\n","protected":false},"author":131,"featured_media":2000096836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[75],"byline":[201],"hashtag":[],"class_list":["post-56078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-homenews","byline-rania-umutoni"],"bylines":[{"id":201,"name":"Rania Umutoni","slug":"rania-umutoni","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":139}],"contributors":[{"id":201,"name":"Rania Umutoni","slug":"rania-umutoni","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":139}],"featured_image":{"id":2000096836,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/f545wvxu2fa77i2baduusirfmilogo.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/f545wvxu2fa77i2baduusirfmilogo.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/f545wvxu2fa77i2baduusirfmilogo.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/f545wvxu2fa77i2baduusirfmilogo.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/f545wvxu2fa77i2baduusirfmilogo.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/f545wvxu2fa77i2baduusirfmilogo.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/56078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=56078"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/56078\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000096836"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=56078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=56078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=56078"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=56078"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=56078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}