US and China agree ‘framework’ for trade deal ahead of Xi-Trump meeting

US treasury secretary anticipates tariff truce with China will be extended, and that China will revive substantial purchases of US soybeans

The US and China have agreed a framework for a trade deal just days before Donald Trump and Chinese president Xi Jinping are due to meet.

Treasury secretary Scott Bessent said the agreement, forged on the sidelines of the Association of south-east Asian Nations (Asean) summit in Malaysia on Sunday, would remove the threat of the imposition of 100% tariffs on Chinese imports starting on 1 November and include a final deal" on the sale of TikTok in the US.