US President Donald Trump said he was confident of hashing out a deal with Chinese President Xi Jinping, whom he is expected to meet next week, after top economic officials from both countries reached a preliminary consensus in trade talks that concluded on Sunday.

US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer met with Chinese Vice Premier He Lifeng and top trade negotiator Li Chenggang on the sidelines of the ASEAN summit in Kuala Lumpur for a fifth round of in-person discussions since May. “I think we have a very successful framework for the leaders to discuss on Thursday,” Bessent told reporters.

Bessent told NBC’s “Meet the Press” that he anticipated the agreement would defer China’s expanded export controls on rare earth minerals and magnets and avoid a

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