Summary
The United States and China have made progress in trade talks during a meeting in Malaysia, setting the stage for President Trump and Chinese President Xi Jinping to discuss a potential agreement. The discussions are aimed at easing trade tensions between the two countries, with both sides making concessions. Key topics include China's promise to increase purchases of U.S. agricultural products and the possibility of delaying China's export controls on rare-earth minerals.
Key Facts
- U.S. and China held trade talks in Malaysia and reported significant progress.
- President Trump and President Xi are scheduled to meet in South Korea to continue discussions.
- The U.S. may avoid imposing a 100 percent tariff on Chinese goods if a deal is reached.
- China agreed to purchase more U.S. agricultural products, boosting American farmers.
- China plans to introduce controls on the export of rare-earth minerals by December 1.
- Rare-earth minerals are important for making high-tech products like smartphones and electric cars.
- Trade tensions have caused global concern about potential economic impacts.
- The U.S. and China hope to finalize specific trade details during upcoming talks.
