Overview
- U.S. Treasury Secretary Scott Bessent said the additional 100% tariffs on Chinese imports are effectively off the table after two days of talks in Malaysia.
- Negotiators signaled China would delay its new rare‑earth export controls by about a year as the policy is reexamined.
- The preliminary framework spans export controls, reciprocal tariffs, soybean purchases, fentanyl cooperation, shipping and port fees, and a path to finalize the TikTok deal.
- Officials stressed the package is provisional and requires internal approval on both sides before leader‑level review later this week.
- Risk assets rose on the de‑escalation, with Bitcoin near $113,800 and the total crypto market value around $3.9 trillion, according to market data.