Overview
- U.S. and Chinese negotiators reported a framework to pause planned U.S. tariff hikes and delay Chinese rare‑earth export controls ahead of Thursday’s Trump–Xi meeting.
- Treasury Secretary Scott Bessent called it a “very substantial framework,” while China’s Li Chenggang cited a “preliminary consensus,” with final approval left to the leaders and domestic processes.
- Elements under discussion include revived Chinese purchases of U.S. soybeans plus steps on fentanyl precursors, according to officials involved in the talks.
- Trump’s Malaysia stop produced ASEAN trade and critical‑minerals agreements and an expanded Thailand–Cambodia ceasefire, reflecting a broader regional push.
- In Tokyo, Japan’s $550 billion U.S. investment pledge featured alongside planned purchases and sector pacts, and Asian stocks rose on hopes for a tariff pause.