Overview
- U.S. Treasury Secretary Scott Bessent said negotiators reached a preliminary framework to postpone China’s rare‑earth export curbs by about a year, resume Chinese purchases of U.S. soy, and suspend a planned 100% tariff increase.
- Chinese trade envoy Li Chenggang described the outcome as a “preliminary consensus,” with details — including TikTok transfer arrangements and tariff truce parameters — to be settled when the two leaders meet on October 30 in South Korea.
- Trump signed regional accords in Kuala Lumpur to secure critical minerals, with Malaysia pledging no bans or quotas on exports to the U.S. and Thailand moving to drop tariffs on roughly 99% of U.S. goods, while Washington keeps a 19% duty on most exports from those partners.
- The president co‑signed a Cambodia–Thailand ceasefire that provides for regional observers and the release of 18 Cambodian prisoners after deadly border clashes in July.
- Investor optimism lifted markets, with Tokyo’s Nikkei closing above 50,000 for the first time as the Asia tour moved on to Japan ahead of the Trump–Xi meeting.