The United States and China appear to have hammered out the framework of a trade deal in advance of Presidents Donald Trump and Xi Jinping's meeting this week, removing the threat of an imminent collapse in trade between the world's two largest economies.

U.S. President Donald Trump, on board Air Force One, expressed optimism about trade talks with China on Monday.

At a regional summit in Malaysia, China and the U.S. say they have reached a preliminary consensus on topics including export controls, fentanyl and shipping levies. Trump's 100% tariff threat is 'off the table,

Top trade negotiators for the US and China said they came to terms on a range of contentious points, setting the table for leaders Donald Trump and Xi Jinping to finalize a deal and ease trade tensions that have rattled global markets.

Treasury Secretary Scott Bessent hailed a “very successful framework” for this week’s Trump-Xi meeting, while Beijing said the two sides reached a preliminary consensus on key issues.

U.S.-China trade tensions appeared to cool Sunday before an upcoming meeting between President Donald Trump and Chinese leader Xi Jinping, with each side saying a deal was nearing between the world's two largest economies.