US and China agree on preliminary framework for a trade deal

The United States and China have agreed to a preliminary framework for a trade deal, officials from both sides said on Sunday.

The development came during talks at the Association of Southeast Asian Nations (ASEAN) summit in Kuala Lumpur.

US President Donald Trump and Chinese leader Xi Jinping hope to further finalize the deal during their meeting on Thursday in South Korea, the last stop of Trump's trip through Asia.

The purpose of the trip is to work on investment deals and peace efforts, with the US leader visiting Malaysia, followed by Japan and South Korea.

Tensions have been high between the world's two largest economies. Beijing recently decided to implement stricter restrictions on exports of rare earth metals that are needed for advanced technologies.

Trump also expressed confidence that a deal was close, claiming that both China and the US want to make a deal.

The US leader reiterated that he plans to visit China in the future and offered Xi an invitation to come to Washington or to Mar-a-Lago, Trump's private club in Florida./CNA

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