U.S. President Donald Trump and Chinese leader Xi Jinping will discuss a trade framework to reduce U.S. tariffs on Chinese goods in exchange for Beijing’s commitment to curb exports of fentanyl precursor chemicals,

While through traveling Asia, Pres. Trump announced the U.S. and China have agreed to a framework for a trade deal ahead of his meeting with Chinese President Xi Jinping.

At the Fourth Plenum of the Communist Party of China’s leadership, President Xi Jinping outlined a bold shift in China’s economic development model under its next Five-Year Plan.

Bessent said Trump would likely visit Xi in Beijing early next year ahead of the Lunar New Year, and a meeting in Washington would likely happen ahead of Xi’s trip to the U.S.