KUALA LUMPUR, Malaysia — Negotiators have reached a framework of a trade deal to avert additional 100 percent tariffs that President Donald Trump had threatened to impose on imports from China, setting the stage for the U.S. president’s highly anticipated meeting with Chinese leader Xi Jinping on Thursday.
Treasury Secretary Scott Bessent said in interviews Sunday that constructive meetings with his Chinese counterparts led to the deal, with the delegation from Beijing agreeing to defer restrictions on rare earth minerals that were poised to harm the U.S. economy. The announcement marked a significant de-escalation of a whiplashing trade war between the world’s two largest economies, which heated up when Trump threatened to ratchet up tariffs earlier this month in response to China’s restrictions on the minerals, which are essential components in most electronics.
And from CBC – Shadow of Trump’s trade war follows Carney to Malaysia
Prime Minister Mark Carney arrived in Malaysia late Saturday in search of trade opportunities with the Association of Southeast Asian Nations (ASEAN).
But the question on everyone’s mind is whether he’ll get any face time with U.S. President Donald Trump, who is expected to arrive at the same gathering on Sunday.
Learn Mandarin Cheap!
JUST IN: US Treasury Secretary Bessent says China is ready to make a trade deal which would remove President Trump’s 100% tariff. pic.twitter.com/OdJbLMhuYZ
— Watcher.Guru (@WatcherGuru) October 26, 2025
The United States and Thailand reached a Framework for an Agreement on Reciprocal Trade. This historic Agreement will eliminate tariff barriers on approximately 99% of goods, covering a full range of U.S. industrial and agricultural products.
Learn more: https://t.co/FCgLGcY8oL pic.twitter.com/lp38ocnOCY
— United States Trade Representative (@USTradeRep) October 26, 2025
The Soybean Summit!
h/t Mauser and Clink9
