Catenaa, Monday, October 27, 2025- US and China have agreed on a preliminary framework addressing tariffs, rare earth exports, and agricultural purchases, Reuters reported a while ago.
The discussions, held on the sidelines of the ASEAN Summit in Kuala Lumpur, aim to avert escalating trade tensions and lay groundwork for a broader agreement.
This comes ahead of a planned meeting between President Donald Trump and Chinese President Xi Jinping this week
US Treasury Secretary Scott Bessent said the talks halted the threat of 100% tariffs on Chinese goods starting November 1 and expected China to delay its rare earths export controls by a year.
China, which produces more than 90% of the world’s refined rare earths essential for high-tech and military applications, also signaled a willingness to resume substantial US soybean purchases.
US Trade Representative Jamieson Greer said both sides agreed to pause certain punitive measures and explore expanded access to rare earths, while Chinese Vice Premier He Lifeng and top negotiator Li Chenggang described the discussions as candid and constructive.
Li added that a “preliminary consensus” had been reached and internal approvals were pending in both countries.
The planned Trump-Xi meeting at the Asia-Pacific Economic Cooperation summit in South Korea is expected to finalize the details.
Topics likely to be discussed include tariff extensions, rare earths, US fentanyl-related trade measures, port fees, and agricultural purchases.
The talks aim to maintain a delicate trade truce, prevent global supply disruptions in critical materials, and balance commercial and strategic interests between the two economic superpowers.
