KUALA LUMPUR (Reuters) -Top Chinese and U. economic officials on Sunday hashed out the framework of a trade deal for U.

Scott Bessent told NBC News that President Donald Trump would most likely visit Chinese President Xi Jinping in Beijing early next year.

At a regional summit in Malaysia, China and the U.S. say they have reached a preliminary consensus on topics including export controls, fentanyl and shipping levies. Trump's 100% tariff threat is 'off the table,

Bessent announced that increasing tariffs on China is no longer in consideration following productive trade discussions with Chinese officials. , World News, Times Now

President Trump announced an additional 10% tariff on Canadian imports on Saturday, but said there is a good chance of a "comprehensive deal" on trade with China.

China’s craze for crude is part of a grander plan. Since early 2024, when it became clear that President Donald Trump might return to the White House, officials have stockpiled fuel, food and metals to limit exposure to sanctions and tariffs.

China has reported that its economy expanded at the slowest annual pace in a year in July-September, growing 4.8%, weighed down by trade tensions with the United States and slack domestic demand.

U .S. soybean farmers headed into harvest season facing a problem possibly more daunting than a drought or a tornado. China, the top global buyer of soybeans, has moved away from American beans in the heart of the selling season.