Top Chinese and U.S. officials agreed on a trade framework as President Donald Trump said he was confident of hashing out a deal with China's Xi Jinping.

US and Chinese officials have reached a framework agreement, averting a potentially ruinous 157% tariff on Chinese goods while paving the way for a potential trade deal to be discussed between President Donald Trump and Chinese leader Xi Jinping later this week.

Stocks spiked to al-time highs to start the week. extending gains from Friday's record-setting rally. Chips and rare earth stocks were among the big movers.

The Trump administration is widely expected to make a fresh agreement on trade this week with China, and U.S. stocks are rallying Monday.

A tariff hike could potentially damage the Chinese economy. The U.S. imported about $438 billion worth of goods and services from China last year, making it the largest destination for China’s exports. In all, that figure accounts for about 15% of China’s exports, according to the Office of the U.S. Trade Representative.

Iowa Republicans are urging the Trump administration to move to restore access to foreign soybean markets amid a trade standoff with China.

Political science expert William Muck breaks down the president’s new trade agreement with Japan and what’s at stake in Trump’s upcoming meeting with China’s leader in South Korea.

In reality, President Xi may have other ideas. While US Treasury Secretary Scott Bessent pushes China to light a fire under consumer spending and the White House touts Trump’s Asia trip as a ringing success, China’s latest five-year plan appears to show Trump’s rebalancing dream to be—as far as Beijing is concerned— a fantasy.

President Trump will meet with Chinese President Xi on Thursday in an attempt to stop the trade war from escalating. Also, Trump terminated trade talks with Canada again after a TV ad played an audio of former President Ronald Reagan criticizing tariffs.

Global stocks rallied on Monday to a fresh intraday record while the dollar eased on optimism that a potential trade deal was on the horizon between China and the U., as investors awaited a slew of central bank policy announcements and earnings from several megacap companies.