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.

President Donald Trump and Chinese President Xi Jinping are expected to reach a deal to avert a new 100% U.S. tariff on Chinese goods.

Treasury Secretary Scott Bessent revealed a trade deal framework with China after two days of meetings with his counterparts from the rival nation. The move means the U.S. might not have to slap the 100% tariffs on Chinese imports that President Donald Trump had threatened as of Nov.

The U.S. has worked out a "framework" trade deal with China that will avoid a threatened additional 100% in tariffs, Treasury Secretary Scott Bessent said Sunday. Why it matters: The news will come as a huge relief to financial markets,

Trade tensions between the United States and China appeared to cool on Sunday ahead of a meeting between President Donald Trump and Chinese leader Xi Jinping, with the Chinese government

Both China and the U.S. will have to make some concessions to lower trade tensions, President Donald Trump told reporters late Friday as he departed on a near weeklong trip to Asia. “They’ll have to make concessions.

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.