Bessent said Trump would likely visit Xi in Beijing early next year ahead of the Lunar New Year, and a meeting in Washington would likely happen ahead of Xi’s trip to the U.S.

Top negotiators for the U.S. and China expressed optimism Sunday that a new trade deal is in reach, ahead of a meeting later this week between President Donald Trump and China’s President Xi Jinping.

Top Chinese and U.S. economic officials on Sunday hashed out the framework of a trade deal for U.S. President Donald Trump and Chinese President Xi Jinping to finalize that would pause steeper American tariffs and Chinese rare earths export controls and resume U.

Top trade negotiators for the US and China said they came to terms on a range of contentious points, setting the table for leaders Donald Trump and Xi Jinping to finalize a deal and ease trade tensions that have rattled global markets.

Treasury Secretary Scott Bessent said that he reached a "substantial framework" for trade talks between the U.S. and China ahead of a meeting between President Donald Trump and Chinese President Xi Jinping on Thursday -- potentially averting hefty tariffs on imported Chinese goods.

Top Chinese and U.S. officials agreed on a trade framework as President Donald Trump said he was confident of hashing out a deal with China's Xi Jinping.

A trade deal between the United States and China is drawing closer, officials from the world’s two largest economies said Sunday as they reached an initial consensus for President Donald Trump and Chinese leader Xi Jinping to aim to finalize during their high-stakes meeting.

US officials expect China to delay introducing sweeping export controls on rare earths, after two days of talks in Malaysia raised hopes that Donald Trump and Xi Jinping would agree to extend a trade truce at their high-stakes summit this week.