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 sweeping tariffs on imports from overseas, 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.
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 100% tariff on Chinese goods from November in response to China tightening restrictions on the 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.
On Sunday, Washington also announced a slew of trade deals with Malaysia and Cambodia and framework agreements with Thailand and Vietnam.
The region, which is heavily dependent on trade with the US, is among the hardest hit by Trump's tariffs.
Trump signed agreements involving the trade of critical minerals with Thailand and Malaysia. These expand the US' access to rare earth elements and other metals beyond China.
Trump also announced framework agreements for the US to trade more goods with Cambodia and Thailand.
The White House and Vietnam announced unprecedented trade access between the countries. Vietnam also agreed to buy Boeing jets worth more than $8bn (£6bn) from the US and American agricultural goods.
Additional reporting by Osmond Chia.
