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US and China agree on trade deal framework
October 27, 2025
|Financial Express Mumbai
Talks cover rare earths, fentanyl and TikTok
TOP CHINESE AND US economic officials agreed on the framework for a trade agreement on Sunday as US President Donald Trump said he was confident of hashing out a deal with Chinese President Xi Jinping when they meet in the coming days.
Scott Bessent, US treasury secretary and Jamieson Greer, trade representative met with He Lifeng, Chinese vice premier and top trade negotiator Li Chenggang on the sidelines of the ASEAN summit in Kuala Lumpur for a fifth round of in-person discussions since May.
"I think we have a very successful framework for the leaders to discuss on Thursday," Bessent told reporters.
Bessent told NBC's "Meet the Press" that he anticipated the agreement would defer China's expanded export controls on rare earth minerals and magnets.
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