US and China agree framework of trade deal ahead of Trump-Xi meeting
US trade secretary says the two will sign a deal on TikTok, while hinting at agreement on rare earths and tariffs.
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Scott Bessent told the BBC's US news partner CBS that this included a "final deal" on TikTok's US operations and a deferral on China's tightened rare earth minerals controls.
He also said he did not anticipate the 100% tariff on Chinese goods threatened by President Donald Trump coming into force, while China will resume substantial soybean purchases from the US.
Both nations are seeking to avoid further escalation in a trade war between the world's two largest economies.
Trump and Chinese President Xi Jinping are due to hold talks on Thursday in South Korea.
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