India, Oct. 27 -- China on Sunday announced that they have reached a "basic consensus" on a potential trade deal with the United States, just days before US President Donald Trump is scheduled to meet his Chinese counterpart, Xi Jinping.

According to a report by Xinhua, the "consensus" was reached after two days of talks between Chinese Vice Premier He Lifeng and the US delegation led by treasury secretary Scott Bessent and US Trade Representative Jamieson Greer on the sidelines of the Association of Southeast Asian Nations (ASEAN) summit in Kuala Lumpur.

Lifeng described the discussions as "candid, in-depth, and constructive." According to a CNN report, the talks covered a wide range of issues, including tariffs, export controls, trade...