US-China, Agreed on the basic framework of a new trade agreement…Awaiting approval from Trump-Xi Jinping

U.S.-China nearing final agreement (Source: Reuters)

The United States and China have reached a principled agreement on the basic framework of a new trade agreement through a two-day high-level meeting in London, reported Yonhap News on the 11th. This negotiation lasted a total of 20 hours, and it was conveyed that both sides formed a certain level of consensus on major issues.

The specific details of the agreed framework have not yet been disclosed, but the agreement is expected to take effect after final approval by U.S. President Donald Trump and Chinese President Xi Jinping. This agreement is drawing attention for its potential impact on the global market amid prolonged trade conflicts between the two countries.