The United States and China have reached a preliminary framework for a trade agreement ahead of a planned summit between President Donald Trump and President Xi Jinping on October 30, 2025.
Scott Bessent, U.S. Treasury Secretary, said the talks in Kuala Lumpur with China’s Vice Premier He Lifeng addressed key issues including China’s planned export controls on rare-earths, potential U.S. tariffs of 100 percent, U.S. agricultural purchases, and cooperation on fentanyl.
Li Chenggang, China’s chief trade negotiator, described the outcome as a “preliminary consensus” and said both sides will submit the details for approval.
The framework appears to avert immediate escalation, with China delaying its rare-earth export rules and the U.S. holding off new tariffs, while setting the stage for the Trump-Xi meeting.
Both countries emphasised the need to extend their existing trade truce, originally due to expire on November 10, and use the upcoming summit to turn the framework into a full agreement.
Analysts say the deal helps diffuse short-term tensions and may open pathways to tackle deeper structural issues in U.S.–China trade relations.
