The US and China agreed on the contours of a trade deal, officials said Sunday, in a sign of easing tensions before the two countries’ leaders meet later this week.
The agreement, which came at the start of US President Donald Trump’s diplomatic jaunt through Asia, could resolve issues including high tariffs, rare earth export controls, and soybean sales.
Trump is aiming to clinch the pact with China’s Xi Jinping in South Korea on Thursday.
The development follows weeks of contention, after US Treasury Secretary Scott Bessent lashed out at his Chinese counterpart, Li Chenggang, calling him “unhinged.”
Rather than punishing Li — as some initial speculation suggested — Beijing formalized his role last week as top trade negotiator.