Top U.S. and Chinese officials on Sunday agreed on a trade deal framework for Presidents Trump and Xi to finalise this week, pausing new U.S. tariffs and China’s rare earth restrictions while resuming U.S. soybean exports.
.U.S. Treasury Secretary Scott Bessent told reporters after talks on the sidelines of the ASEAN Summit in Kuala Lumpur that the negotiations had averted Trump’s planned 100% tariffs on Chinese imports set to begin on November 1. He added that China is expected to delay the rollout of its new rare earth licensing policy by a year for further review.
Chinese officials were more cautious, confirming only that a “preliminary consensus” had been reached, with further internal approvals required. “The U.S. position has been tough,” said Vice Commerce Minister Li Chenggang. “But we have engaged in constructive exchanges to explore solutions and arrangements.”
Trump and Xi are scheduled to meet Thursday at the APEC summit in Gyeongju, South Korea, to formalise the terms. While the White House has announced the meeting, Beijing has not yet confirmed it.
Bessent said he expects the tariff truce between the two countries, due to expire on November 10, to be extended and that China will soon resume large-scale purchases of U.S. soybeans after a hiatus in September. U.S. Trade Representative Jamieson Greer added that both sides had agreed to suspend certain punitive measures and to expand access to Chinese rare earths while balancing trade flows.
The discussions also covered broader issues, including the U.S. fentanyl crisis, port fees, and the ongoing transfer of TikTok to U.S. ownership — a deal Bessent said could be finalised during the Trump-Xi meeting.
Speaking after the talks, Trump expressed optimism, saying, “I think we’re going to have a deal with China.”
Tensions between the world’s two largest economies have escalated in recent weeks despite a fragile truce reached earlier this year. China’s expanded controls on rare earth exports have fuelled shortages worldwide, prompting Washington to consider new export restrictions on high-tech goods to China, including software-driven equipment such as laptops and jet engines.
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The United Nations' top human rights official has called for independent investigations into deaths in U.S. immigration detention facilities, citing a rise in fatalities among people held by U.S. Immigration and Customs Enforcement (ICE).
Tens of thousands of people are still unaccounted for after two powerful earthquakes struck Venezuela. At least 589 people have been confirmed dead and hundreds are believed to be trapped under rubble, as emergency crews and international rescue teams race to respond.
An aircraft roughly the size of a car crashed into Beijing's tallest skyscraper on Friday evening, triggering a major emergency response and a heavy police presence as authorities sealed off the area and gave no immediate explanation for the incident.
An earthquake of magnitude 6.9 struck Japan's northeast coast on Thursday, but no tsunami warning was issued, no injuries were immediately reported and no irregularities were found at nuclear facilities, the authorities said.
As Western Europe battles a deadly heatwave that has shattered temperature records, disrupted transport and power supplies, and forced the closure of schools and cultural landmarks, attention is turning to whether El Niño is playing a role in the extreme conditions.
The U.S. Senate rejected a resolution on Wednesday that would have directed President Donald Trump to remove U.S. forces from hostilities against Iran unless Congress formally authorised military action.
The Kremlin has denied a Wall Street Journal report claiming Moscow is pressuring Belarus to support an expanded Russian military campaign in Ukraine.
Tens of thousands of people are still unaccounted for after two powerful earthquakes struck Venezuela. At least 589 people have been confirmed dead and hundreds are believed to be trapped under rubble, as emergency crews and international rescue teams race to respond.
The United Nations' top human rights official has called for independent investigations into deaths in U.S. immigration detention facilities, citing a rise in fatalities among people held by U.S. Immigration and Customs Enforcement (ICE).
An aircraft roughly the size of a car crashed into Beijing's tallest skyscraper on Friday evening, triggering a major emergency response and a heavy police presence as authorities sealed off the area and gave no immediate explanation for the incident.
Montenegrin police, working alongside the United States' Federal Bureau of Investigation, have arrested an Iranian national accused of carrying out a series of cyberattacks that allegedly caused an estimated $3.4 billion in damage to U.S. infrastructure.
South Korea is set to dramatically expand its unmanned warfare capabilities, with plans to integrate drones across all branches of its military as tensions with North Korea continue to shape the country's defence strategy.
Fertiliser shipments through the Strait of Hormuz have begun to recover following an interim U.S.–Iran agreement aimed at stabilising the waterway after months of disruption during conflict, industry data shows.
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