China and U.S. negotiators say consensus reached amid rare-earth and tariff talks

Chinese trade negotiator Li Chenggang announced reaching consensus with U.S. officials after talks covering rare-earth exports, fentanyl controls and tariff frameworks. The discussions were held in Kuala Lumpur alongside the Association of Southeast Asian Nations summit. Although Li did not provide details, the agreement is seen as paving the way for a leaders’ meeting between the U.S. President and China’s President. Markets view the development as a potential easing of trade-war risks, particularly for semiconductor and critical-minerals supply chains.