In a significant breakthrough ahead of the long-anticipated meeting between the leaders of China and the United States, both nations have reached a preliminary framework trade agreement signaling a pause in escalating tariff tensions.

According to The Guardian and Reuters, U.S. Treasury Secretary Scott Bessent confirmed on October 27 that Washington will delay the 100% additional tariff on Chinese imports that was originally set to take effect on November 1. In return, China is expected to resume large-scale purchases of U.S. soybeans and other agricultural products, restoring a key export channel that had been strained by months of trade friction.

Analysts view this move as the first tangible sign of de-escalation after months of tariff threats and countermeasures. The United States had planned to impose a 100% blanket tariff on all Chinese exports, while China had introduced new export-licensing requirements for rare-earth minerals and magnetic materials in retaliation. Now, with renewed top-level dialogue, both sides appear to be creating room for negotiation and easing global market anxiety.

Official statements from the U.S. Treasury and the Office of the U.S. Trade Representative (USTR) indicate that the postponement may last between three and six months, during which working groups will continue discussions on trade balance, market access, and industrial cooperation. The U.S. Treasury also noted that China’s soybean imports are expected to “gradually return to pre-pandemic levels,” with further talks covering broader commodity categories such as energy and agricultural goods.

Markets responded swiftly. Chicago Board of Trade (CBOT) soybean futures jumped 3.2% after the announcement, while shipping brokers in Asia reported a short-term uptick in freight inquiries for agricultural cargo. The decision is seen as a positive sign for both exporters and logistics operators as the year-end trade season approaches.

Industry experts emphasize that although this is not a full-scale trade deal, the timing and symbolism are crucial. For Washington, delaying the tariffs could help ease inflationary pressure and stabilize consumer prices ahead of the election season. For Beijing, resuming U.S. agricultural imports sends a message of stability and supply-chain pragmatism amid global economic uncertainty.