U.S. and China Initiate Trade Deal Talks to Halt Tariffs and Boost Soybean Sales

U.S. and China officials have begun trade deal discussions to suspend tariffs and enhance soybean sales, crucial for economic relations between the two nations.

• During the ASEAN Summit in Kuala Lumpur, economic officials from the United States and China outlined a trade deal framework for Donald Trump and Xi Jinping to finalize.
• United States Secretary of the Treasury Scott Bessent announced that the talks would prevent the implementation of tariff increases and resume soybean exports to Beijing.
• The proposed agreement also includes a pause on rare-earth element export controls from China, indicating a potential easing of tensions in trade relations.