President Trump appears confident in finalizing a trade agreement with China, after preliminary negotiations in Kuala Lumpur.

American President Donald Trump expressed optimism regarding a trade agreement with Chinese leader Xi Jinping, after the economic teams of the two countries reached a preliminary consensus during the negotiations in Kuala Lumpur. The discussions, held on the sidelines of the ASEAN summit, involved high-ranking officials from both countries and were the fifth round of direct negotiations since May. U.S. Treasury Secretary Scott Bessent stated that the meeting scheduled for October 30 in Busan will be crucial for signing the agreement.

The preliminary agreement could delay the expansion of Chinese controls on the export of rare metals and would avoid the imposition of a new 100% tariff on Chinese goods. The negotiations addressed topics such as the trade balance, rare earth exports, and port fees. Both parties want to avoid escalating the trade war, considering that the current tariff truce expires on November 10. Trump emphasized that the discussions were productive and that further meetings will follow in the future. Recent trade tensions have been heightened by China's export controls and U.S. tariff investigations. Chinese Vice Premier He Lifeng expressed hope that both countries will find common ground to stabilize trade relations.