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US and China agree framework of trade deal ahead of Trump-Xi meeting
The US and China have agreed the framework of a potential trade deal that will be discussed when their respective leaders meet later this week, the US treasury secretary has said.
Scott Bessent told the BBC’s US news partner CBS that this included a “final deal” on TikTok’s US operations and a deferral on China’s tightened rare earth minerals controls.
He also said he did not anticipate the 100% tariff on Chinese goods threatened by President Donald Trump coming into force, while China will resume substantial soybean purchases from the US.
Both nations are seeking to avoid further escalation in a trade war between the world’s two largest economies.
Trump and Chinese President Xi Jinping are due to hold talks on Thursday in South Korea.
Bessent met senior Chinese trade officials on the sidelines of the Association of Southeast Asian Nations (Asean) summit in Malaysia, which Trump is also attending as part of a tour of Asia. Beijing said they had “constructive” discussions.
Bessent said the countries had “reached a substantial framework for the two leaders”, adding: “The tariffs will be averted.”
The Chinese government said in a statement that both negotiating teams “reached a basic consensus on arrangements to address their respective concerns”.
“Both sides agreed to further finalise specific details,” they added.
Since Trump re-entered the White House, he has imposed and threatned sweepingtariffs on imports from overseas on various countries, arguing that the policy would help boost US manufacturing and jobs. The introduction of tariffs has resulted in many countries, including the UK agreeing new deals with the US.
But the steepest levies he has threatened have been levelled at China. Beijing has hit back with measures of its own, though the two agreed to hold off implementing the levies while pursuing a trade deal.
However, earlier this month Trump said he would impose an additional tariff on Chinese goods from November in response to China tightening restrictions on export of rare earths – materials essential to the production of many electronics. The US president accused Beijing of “becoming very hostile” and trying to hold the world “captive”.
China processes around 90% of the world’s rare earths, which go into everything from solar panels to smartphones, making supply of them to US manufacturers a key bargaining chip.
The last time Beijing tightened export controls – after Trump raised tariffs on Chinese goods early this year – there was an outcry from many US firms reliant on the materials.
China will “delay that for a year while they re-examine it”, Bessent told a different news show, This Week, on Sunday.
[BBC]
An estimated 550,000 people took part in demonstrations across France today to protest against teaching conditions in schools, rising fuel prices and the cost of living.
Marches were largely peaceful and took place in several major French cities, including Paris, where 110,000 people attended.
“We just want to study, we just want a future” one student taking part in the protest in the capital told BBC News, while another said they were ” just trying to make things change”.
But French Interior Minister Laurent Nunez said some groups “at the margins of these protests” caused the situation to “degenerate”.
According to the French Prime Minister Sébastien Lecornu, 1200 people were arrested. Officials also reported looting in cities such as Marseille, where masked 8ntruders also entered the city hall. In Lyon, the tourist office was set on fire and shops were damaged.
French President Emmanuel Macron said any vandals and looters would be “prosecuted and punished”, while Jean-Luc Mélenchon, the leader of left-wing party La France Insoumise, said demonstrations had been calmly mobilised.
Meanwhile, firefighters are continuing to battle a blaze at Limoges City Hall after a reported break-in and arson inside the 19th-century building during protests there.
(BBC)
A large fire near a Canadian military base in Alberta has killed and injured some people, the defence minister said, without confirming the number of casualties.
The Canadian Armed Forces were working with local authorities to manage the fire and were looking into what caused it, David McGuinty said, describing the situation as “very, very active and delicate”.
Canada’s Prime Minister Mark Carney said on X that a “serious incident creating a major fire” had occurred, adding his “thoughts are with all the brave women and men affected”.
Canadian Forces Base Wainwright, where the fire broke out, is one of the country’s busiest military training bases.
The blaze “spread rapidly due to high winds” and had torn through the fences of the base, the Municipal District of Wainwright said.
McGuinty told reporters he “cannot recall an incident like this in recent memory”.
It is unclear when the fire broke out, but the district first posted about the incident at about 17:30 local time.
Local authorities have urged residents to avoid the area and give all emergency vehicles right of way.
(BBC)
The Asian Youth Games gold medallist who has run sub four minutes previously returned a time of 3:55.97 seconds to become the first athlete in his age category at these championships to run the distance under four minutes.
Achintha who has a personal best of 3:53.05 from last year was representing Prince College Ratnapura today.
In another impressive 1,500 m feat Tharushi Abhisheka of Lyceum International School, Wattala established a new meet record in the Under-20 Girls’ 1,500m as she returned a time of 4:34.59 seconds to win.
By the end of the second day of the meet seven new meet records had been established.
D. V. C. de Soysa (of Galewela Central College) Under-16 Boys’ Discus Throw – 55.83m.
D. G. Lahiru Achintha (of Ratnapura Kumara Vidyalaya) Under-18 Boys’ 1,500m – 3:55.97 secs.
W. P. Nethula Induwara (Rahula College, Matara) Under-14 Boys’ 100m – 11.70 seconds
K. V. R. Gayesha (Ira Handa Kotuwa Wewa Maha Vidyalaya, Polonnaruwa) Under-16 Girls’ High Jump – 1.70m
H. M. D. S. Herath (Maris Stella College, Thimbirigaskatuwa) Under-20 Boys’ Long Jump – 7.65m
P. M. Amaya Semindi (Vijitha Central College, Dikwella) Under-14 Girls’ High Jump – 1.58m
Record 1,600 students take Russian Classical Ballet examination in Sri Lanka
Half a million people join protests in France, but some turn violent
Deadly fire breaks out at Canada military base
Showers or thundershowers will occur in most parts of the island after 1.00 p.m.
Buddhist hierarchy demands prison perks for monk convicts
Debate on NCM against Speaker postponed indefinitely
‘Dates have the highest sugar content to fight Coronavirus’
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