US and China reach preliminary trade agreement

The U.S. and China have reached a preliminary trade agreement, potentially averting significant tariffs and easing tensions ahead of a meeting between Trump and Xi. The deal includes China resuming large soybean purchases and delaying export curbs on rare-earth minerals, while the threat of 100% U.S. tariffs on Chinese goods is reportedly off the table. This framework agreement, which also addresses issues like fentanyl and TikTok, could provide a tangible win for Trump with U.S. farmers and boost markets.