US tees up sweeping trade deal with China ahead of Trump-Xi meeting

News Snapshot:

The US has reached a tentative deal with China that will stave off the threats of massive tariffs and trade restrictions as Donald Trump prepares to meet Xi Jinping later this week. On Sunday, Treasury Secretary Scott Bessent said the two nations had reached a “substantial framework” after discussing a “wide range of issues” with his Chinese counterpart. Mr Bessent said the agreement took Mr Trump’s threat of 100pc tariffs of China “effectively off the table” and that China would delay a threat to curb exports of rare earth minerals that are critical to weapons and high-tech items. Both sides...