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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]
Building on its success in seizing major narcotic stocks in 2025, the Navy continued to support the “A Nation United” National Mission in 2026. In continuation of these efforts, during an
operation conducted on the high seas south of Sri Lanka, the Navy apprehended eleven (11) suspects aboard two local multi-day fishing trawlers suspected of drug smuggling.
Based on shared information, by the Sri Lanka Navy and Police, this special operation was conducted off the southern coast, deploying the Navy‟s Offshore Patrol Vessels. The operation
resulted in the interception of a multi-day fishing trawler suspected of smuggling narcotics, and the apprehension of five (05) suspects on board.
During further operations in the same area, naval units seized another multi-day fishing trawler (01), along with communication equipment and six (06) additional suspects, also believed to be involved in drug smuggling.
This morning (25 Jan 26), the two intercepted fishing trawlers, along with fourteen (14) sacks laden with suspected narcotics and the suspects, were brought to the Dikovita Fisheries Harbour.
An expert examination by the Police Narcotic Bureau confirmed that the fourteen (14) sacks contained more than 184 kilograms of heroin and over 112 kilograms of ‘Ice’ (crystal methamphetamine).
The Deputy Minister of Defence, Major General (Retd) Aruna Jayasekara, the Commander of the Navy, Vice Admiral Kanchana Banagoda, and the Inspector General of Police, Priyantha Weerasuriya, inspected the narcotics at the Dikovita harbour.
The Deputy Minister of Defence said that the current administration has initiated several projects for national development. As a flagship initiative, under the directives and guidance of the President, and under the supervision of the
Ministry of Defence, well-coordinated anti-narcotic raids have been launched.
This effort, part of “A Nation United” National Mission, involves the tri-forces, police, and all intelligence agencies working together under a coordinated plan to ensure that drug smugglers have no opportunity to bring narcotics into the country, he opined. He further stated that despite the national disaster situation, the state machinery, including the tri-forces, the police, and the public at large, remains united in rebuilding the nation, no room will be left for drug trafficking, which poses a severe threat to national security and public safety. Those
who engage in or support drug trafficking, under the cover of fishing activities, will find no escape, he added.
The Deputy Minister also reaffirmed that the tri-forces, police, and all law enforcement agencies are fully committed to their duty of suppressing this menace.
The Deputy Minister of Defence reported that, throughout 2025, a series of highly successful operations were conducted leading to numerous arrests. This was achieved through close coordination and mutual cooperation among the tri-services, the police, the Special Task Force, Police Narcotics Bureau, local law enforcement and international agencies. He noted that this
same spirit of cooperation and commitment has continued into 2026, resulting in the seizure of a large stockpile of drugs.
On behalf of the Honourable President, he extended gratitude to all who contributed to these efforts, specifically acknowledging the Commander of the Navy, the Inspector General of Police, the Police Narcotic Bureau, and the crews of the Navy’s Offshore
Patrol Vessels.
Moreover, the Deputy Minister declared that drug smuggling has become a national crisis, fueled by youth involvement and social crime. With borders secured under the “Nation United” National Mission, he warned traffickers to cease operations and urged users to abandon the destructive habit.
The Deputy Minister urged the public to report suspected drug smugglers to law enforcement via the hotlines 1818 or 1997 and also commended the role of media institutions and journalists in raising public awareness about the dangers of narcotics through responsible reporting.
Meanwhile, the two (02) multi-day fishing trawlers, along with a haul of narcotics, eleven (11) suspects, and communication equipment, were handed over to the Police Narcotic Bureau for
further investigation and legal proceedings.
Tanzania 131 in 38.3 overs (Acrey Pascal 55; Nihar Parmar 4-30, Nikhil Pol 3-23) lost to Japan 136/1 in 28.2 overs (Nihar Parmar 53*, Taylor Waugh 47) by nine wickets
[Cricbuzz]
New Zealand 135 in 36.2 overs (RS Ambrish 4-29, Henil Patel 3-23) lost to India 130/3 in 13.3 overs (Vaibhav Suryavanshi 40, Ayush Mhatre 53) by 7 wickets [DLS Method]
[Cricbuzz]
Three arrested with narcotics valued at Rs123 million at BIA
Navy intercepts 02 narcotics-laden trawlers with 11 suspects in southern seas
Indonesian Naval Ship ‘KRI SULTAN ISKANDAR MUDA – 367’ departs island
U19 World Cup: Japan defeat Tanzania by nine wickets
U19 World Cup: Ambrish’s four-fer powers India to third straight win
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