US, China reach 'framework' of trade deal, Bessent says

Treasury Secretary Scott Bessent announced that the U.S. and China have made significant progress towards a trade deal, potentially avoiding the imposition of 100 percent tariffs on Chinese goods. After two days of negotiations in Malaysia with Chinese International Trade Representative Li Chenggang, a framework for the agreement has been established. This development is crucial as it may ease trade tensions between the two largest economies, fostering a more stable economic environment and benefiting global markets.