US and China agree ‘framework’ for trade deal ahead of Xi-Trump meeting

The Guardian•Monday, October 27, 2025 at 12:18:52 AM

The US and China have reached a significant framework for a trade deal just ahead of an important meeting between President Trump and President Xi Jinping. This agreement, announced by Treasury Secretary Scott Bessent during the ASEAN summit in Malaysia, is expected to ease tensions by extending a tariff truce and encouraging China to increase its purchases of US soybeans. This development is crucial as it could pave the way for improved economic relations between the two largest economies in the world, benefiting global markets and trade stability.

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