China and U.S. Near Preliminary Trade Agreement Amid Optimism
After months of quiet negotiations, officials from China and the United States appear to be closing in on a long-awaited trade agreement. Discussions in Kuala Lumpur this week produced a preliminary framework addressing tariff suspensions, export controls, and bilateral cooperation pathways.
China’s trade representative, Li Chenggang, described the talks as open and constructive, noting the deal awaits domestic approval. U.S. Treasury Secretary Scott Bessent confirmed both nations are working to finalize terms that WOULD roll back proposed tariffs, emphasizing a shared goal of de-escalation.
The framework, designed by Bessent and Chinese Vice Premier He Lifeng, aims to prevent further trade tensions and balance relations. Final terms will be reviewed by Presidents TRUMP and Xi Jinping in an upcoming meeting focused on agricultural and industrial collaboration.
