100% tariffs off the table? US, China clinch ‘substantial framework' to ease tensions #shorts

US Treasury Secretary Scott Bessent on Sunday announced that both sides had reached a 'very substantial framework' to prevent a new round of 100 percent tariffs on Chinese goods and secure a deferral of China’s planned rare earth export controls.

Speaking to Reuters after two days of negotiations in Kuala Lumpur, Bessent said the understanding would allow the US and China to move toward a more 'balanced' trade relationship, and set the stage for a potential breakthrough when President Donald Trump and President Xi Jinping meet next week.

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