The United States and China have reached a preliminary deal on a range of trade issues, representatives from both sides said on Oct. 26, after two days of negotiations in Malaysia.
U.S. Treasury Secretary Scott Bessent said that a “very substantial framework” was established with Chinese trade negotiators in Kuala Lumpur, Malaysia, that would avoid additional 100 percent tariffs on Chinese products.
“President Trump gave me a great deal of negotiating leverage with the threat of the 100 percent tariffs,” Bessent said in an interview on NBC’s Meet the Press program on Oct. 26. “I believe we’ve reached a very substantial framework that will avoid that and allow us to discuss many other things with the Chinese.”…