KUALA LUMPUR: China and the United States have announced a framework on trade following two days of talks in Malaysia, aiming to de-escalate tensions ahead of potential high-level discussions later in the year.
In a briefing, China’s Vice Minister of Commerce and the lead trade negotiator, Li Chenggang, said the talks yielded constructive progress and a pathway for further discussions.
"We have agreed to a framework on trade," he said at the end of the talks with the United States here on Sunday (Oct 26).
He noted that the framework would be presented to the leaders for approval and would require domestic ratification on both sides.
"The framework is not a final deal, but it creates a pathway to stabilise and gradually liberalise our trade relations.
"We will return to our capitals to obtain the necessary approvals and keep the discussions moving in line with the leaders’ consensus," he said.
Li added that the Kuala Lumpur discussions covered a broad agenda, including export controls, tariff timelines, fentanyl-related measures, and other trade-related issues.
He described the talks as constructive, noting that Washington had taken a "firm position" while Beijing was "steadfast in defending its interests."
"The discussions were deep, candid, and results-oriented," Li said, adding that negotiators would implement previously established agreements while expanding bilateral cooperation in areas of shared concern.
The talks, led by Vice-Premier He Lifeng and US Secretary of the Treasury Scott Bessent, come amid a renewed push to steady the relationship ahead of the expiry of a temporary tariff truce later this year.
Traders and policymakers have watched closely for any signs that the two sides can find common ground on contentious issues ranging from technology exports to tariff timing and enforcement.
Beijing and Washington have signalled that the framework is a stepping stone toward more formal engagement, potentially including a high-level meeting between presidents Xi Jinping and Donald Trump if conditions permit.
