US, China Reach Preliminary Consensus On Trade Negotiations; Leaders To Meet This Week
Ahead of the high-level meeting between the two nations’ leaders, China has reportedly reached a preliminary consensus with the United States during recent trade negotiations, news agency Reuters reported, citing a senior Beijing official.
According to Li Chenggang, China’s international trade negotiator and vice minister of commerce, both countries held constructive discussions on key issues of mutual concern and reached a preliminary consensus on how to address them.
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Delegations from both countries met in Malaysia for two days of talks that concluded on Sunday. President Donald Trump and Chinese Premier Xi Jinping are expected to meet later this week in South Korea.
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According to US Treasury Secretary Scott Bessent, Trump’s threat of 100% tariffs on Chinese goods “is effectively off the table.” However, he expects the China to make substantial soybean purchases as well as offer a deferral on sweeping rare earth controls, adding that the US wouldn’t change its export controls directed at China though.
