Trump eyes trade deal after U.S. and China reach an early consensus in 'successful' talks

U.S. President Donald Trump said helium was assured of hashing retired a woody with Chinese President Xi Jinping, whom helium is expected to conscionable adjacent week, aft apical economical officials from some countries reached a preliminary statement successful commercialized talks that concluded connected Sunday.

U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer met with Chinese Vice Premier He Lifeng and apical commercialized negotiator Li Chenggang connected the sidelines of the ASEAN summit successful Kuala Lumpur for a 5th circular of in-person discussions since May.

"I deliberation we person a precise palmy model for the leaders to sermon connected Thursday," Bessent told reporters.

Bessent told NBC's "Meet the Press" that helium anticipated the statement would defer China's expanded export controls connected uncommon world minerals and magnets and debar a caller 100% U.S. tariff connected Chinese goods threatened by Trump.

He said Trump and Xi would sermon soybean and cultivation purchases from American farmers, much balanced commercialized and resolving the U.S. fentanyl crisis, which was the ground of 20% U.S. tariffs connected Chinese goods.

Trump arrived successful Malaysia connected Sunday for a acme of the Association of Southeast Asian Nations, his archetypal halt successful a five-day Asia circuit that is expected to culminate successful a face-to-face with Xi successful South Korea connected October 30.

After the talks, helium struck a affirmative tone, saying: "I deliberation we're going to person a woody with China."

China's Li said some sides had reached a "preliminary consensus" and volition adjacent spell done their respective interior support processes.

"The U.S. presumption has been tough," Li said. "We person experienced precise aggravated consultations and engaged successful constructive exchanges successful exploring solutions and arrangements to code these concerns."

Both sides are looking to avert an escalation of their commercialized warfare aft Trump threatened caller 100% tariffs connected Chinese goods and different commercialized curbs starting connected Nov. 1, successful retaliation for China's vastly expanded export controls connected uncommon world magnets and minerals.

Beijing and Washington rolled backmost astir of their triple-digit tariffs connected each other's goods nether a commercialized truce, which is owed to expire connected Nov. 10.

The U.S. and Chinese officials said they discussed commercialized expansion, an hold of the truce, fentanyl, U.S. larboard entranceway fees, uncommon earths, TikTok and more.

Li described the discussions arsenic "candid," portion Bessent said they were "very important negotiations."

Bessent said the truce could beryllium extended, pending the president's decision, marking a 2nd hold since it was archetypal signed successful May.

While the White House has officially announced the highly anticipated Trump-Xi talks, Beijing has yet to corroborate that the 2 leaders volition meet.

On the sidelines of the ASEAN Summit, the U.S. president hinted astatine imaginable meetings with Xi successful China and the United States.

"We've agreed to meet. We're going to conscionable them aboriginal successful China, and we're going to conscionable successful the U.S., successful either Washington oregon astatine Mar-a-Lago," helium said.

Among Trump's talking points with Xi are Chinese purchases of U.S. soybeans, concerns astir democratically-governed Taiwan which Beijing views arsenic its ain territory, and the merchandise of jailed Hong Kong media tycoon Jimmy Lai.

The detention of the laminitis of the now-defunct pro-democracy paper Apple Daily has go the astir high-profile illustration of China's crackdown connected rights and freedoms successful the Asian fiscal hub. Trump besides said that helium would question China's assistance successful Washington's dealings with Russia, arsenic Moscow's warfare successful Ukraine approaches its 4th year.

Tensions betwixt the world's 2 largest economies flared successful the past fewer weeks arsenic a delicate commercialized truce, reached aft their archetypal circular of commercialized talks successful Geneva successful May and extended successful August, failed to forestall the 2 sides from hitting each different with much sanctions, export curbs and threats of stronger retaliatory measures.

The latest circular of talks is apt to halfway astir China's expanded controls of uncommon earths exports that person caused a planetary shortage. That has prompted the Trump medication to see a artifact connected software-powered exports to China, from laptops to pitchy engines, according to a Reuters report.

A time earlier the talks commenced, the U.S. launched a caller tariff probe into China's "apparent failure" to comply with the "Phase One" commercialized woody signed successful 2020.

The caller unfair commercialized practices probe bolsters Trump's toolkit against China.

Any statement from Sunday's talks is apt to beryllium fragile arsenic the world's astir important commercialized relationship, worthy $660 cardinal a year, hangs successful the balance. In a connection connected authorities media Xinhua, Chinese Vice Premier He said helium hopes the U.S. and China volition conscionable each different halfway.