US and China agree on trade framework for rare earths, soybeans

France 24CenterEN 4 min read 100% complete by FRANCE 24October 26, 2025 at 03:15 PM

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US Treasury Secretary Scott Bessent announced on October 26, 2025, that the US and China have reached a tentative trade framework following two days of talks during the ASEAN Summit in Kuala Lumpur. The agreement includes China delaying export curbs on rare earths by a year and committing to buy more US soybeans for several years. This deal aims to prevent a threatened 100 percent tariff hike on Chinese exports by the US. Additionally, details were finalized regarding the transfer of ownership of a Chinese short video app to US control. Presidents Trump and Xi are set to finalize these agreements during their meeting on October 30, 2025.

Key Topics & Entities

Luiz Inacio Lula da Silva 40% Kuala Lumpur 40% Jamieson Greer 40% He Lifeng 40% ASEAN Summit ×250% Donald Trump ×250% US Treasury Secretary ×250% Scott Bessent ×480% US ×3100% China ×4100%

Keywords

us-china trade talks 100% trade framework 90% rare earths 80% soybeans 80% tariffs 70% agricultural purchases 70% trade tensions 60% export curbs 60% internal approval process 50% asean summit 50%

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France 24

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90%

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United States

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us-china trade talks trade framework rare earths soybeans tariffs agricultural purchases trade tensions export curbs internal approval process asean summit

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