The US and China Sign an Important Agreement in Trade

Historical Agreement Between Two Superpowers

The United States and China announced that they have reached a "preliminary framework agreement" following a new round of negotiations held in Malaysia aimed at reducing trade tensions heightened by tariff increases.

Details of the Talks

Chinese International Trade Representative Li Qinggang stated at a press conference in Kuala Lumpur that the two parties have reached a "preliminary consensus" on tariffs, and the agreement will be submitted to the internal approval processes of both countries.

U.S. Trade Representative Jamieson Greer indicated that a framework agreement has been reached that will be presented to the leaders of both countries as a result of intensive discussions. Greer also emphasized that the talks addressed the renewal of the temporary tariff agreement expiring on November 10 and issues related to rare earth elements, stating that the negotiations are ongoing in a constructive process.

Importance of the Negotiations in Malaysia

These negotiations are preparatory for a meeting between Trump and Xi Jinping. Delegations led by Hui Lifeng and Scott Bessent met in the capital of Malaysia, Kuala Lumpur, on October 25-26. This meeting represents the fifth round of negotiations aimed at resolving trade tensions between the two countries.

Past Negotiations

The parties had previously met in Geneva in May, London in June, Stockholm in July, and Madrid in September. The meeting in Malaysia serves as an important step ahead of the APEC Summit where U.S. President Donald Trump and Chinese President Xi Jinping will meet on October 30 in South Korea.

Critical Moment for the Future of Relations

Relations between the U.S. and China have been tense in recent months due to increases in overseas customs tariffs and restrictions in the technology sector. The meeting between Trump and Xi is seen as a critical turning point for the future of relations between the two countries, depending on how these disputes are resolved.