What’s on the Table for the Trump–Xi Meeting?

Markets are rallying ahead of the meeting between U.S. President Donald Trump and Chinese Communist Party (CCP) leader Xi Jinping, in which the two are expected to strike a deal that will increase trade and at least pause a rare-earth restriction that was expected to disrupt global supply chains. Trade officials on both sides, who met last week for the fifth round of in-person talks in Malaysia, announced on Oct. 26 that they had reached a framework for a trade agreement. Chinese negotiators said the U.S. position had been “tough.” U.S. Treasury Secretary Scott Bessent outlined a list that suggested the Chinese side had agreed to everything Trump had raised. In an interview with NBC’s “Meet the Press” on Oct. 26, Bessent said, “President Trump gave me a great deal of negotiating leverage with the threat of the 100 percent tariffs.”...