The United States and China have established the framework for a potential trade agreement, to be finalized during an upcoming meeting between President Trump and President Xi Jinping. This agreement is expected to avert the previously threatened 100% tariffs on Chinese goods.

• A "final deal" has been reached regarding TikTok's US operations, which Trump and Xi are expected to "consummate" on Thursday.
• The agreement includes a deferral on China's tightened controls on rare earth minerals for one year, and China will resume substantial purchases of US soybeans.
• The US Treasury Secretary, Scott Bessent, confirmed that the tariffs will be averted, following "constructive" discussions between senior trade officials.