U.S. and China say trade deal drawing closer as Trump and Xi prepare for high-stakes meeting
Summary
The United States and China are getting closer to a trade agreement, as leaders from both countries prepare to meet. Officials have made initial agreements on several trade issues, and discussions will continue during a meeting between President Trump and Chinese leader Xi Jinping. The talks are part of a larger summit in Kuala Lumpur involving nations from Southeast Asia.Key Facts
- The U.S. and China are working on a trade deal, aiming for a final agreement when President Trump and Xi Jinping meet.
- Officials have reached a "preliminary consensus" on dealing with trade disagreements.
- The U.S. had threatened higher tariffs on Chinese goods, but this threat is currently not active.
- China has limited exports of rare earth elements, which are important for technology.
- Beijing agreed to stop sending ingredients for fentanyl to the U.S. and to buy more American farm products.
- President Trump is attending a summit in Kuala Lumpur and signed economic agreements with Cambodia, Thailand, and Malaysia.
- Thailand and Cambodia signed a ceasefire agreement at the summit, ending border conflicts.
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