"Today’s announcement is a positive step that will allow some trade between the two countries to resume," said U.S.-China Business Council President Sean Stein

Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer met with their Chinese counterparts in Geneva, Switzerland, over the weekend.

Gulf stock markets continued their upward trend early on Monday, buoyed by rising oil prices and developments in U.S.-China trade negotiations, which bolstered market sentiment as U.S. President Donald Trump prepares to visit the region.

President Trump and Treasury Secretary Scott Bessent have both said numerous trade agreements could come as soon as this week.

The President and CEO of the US Meat Export Federation says the U.S. trade agreement in principle with China is good news for beef and pork exports. Dan Halstrom says the deal significantly drops tariff rates for muscle cuts and variety meats.

Trump said the agreement affirms "reciprocity and fairness is an essential and vital principle of international trade."

When President Trump ended a tariff exemption for small packages from China and Hong Kong, e-commerce companies Shein and Temu lost a big advantage as they became exposed to Trump’s new sky-hig