Navy helicopter and fighter jet from USS Nimitz crash in South China Sea during routine operations. All five crew members successfully rescued and stable.

A trade deal between the United States and China is drawing closer, officials from the world’s two largest economies said Sunday as they reached an initial consensus for President Donald

China’s newest aircraft carrier may only be able to conduct air operations at about 60% the rate of a 50-year-old US Navy carrier, two former US carrier officers say, a substantial combat limitation for a vessel meant to revolutionize Beijing’s fleet.

Soybean futures rose 1% at the open on Monday after Treasury Secretary Scott Bessent flagged that the US and China were close to a trade deal which could include “substantial” purchases of the crop.

US officials expect China to delay introducing sweeping export controls on rare earths, after two days of talks in Malaysia raised hopes that Donald Trump and Xi Jinping would agree to extend a trade truce at their high-stakes summit this week.

A US Navy helicopter and a fighter jet went down Sunday during separate routine operations over the South China Sea, and all crew members were safely rescued, the Navy’s Pacific Fleet said.

China will make “substantial” purchases of US soybeans, Treasury Secretary Scott Bessent said Sunday after talks with Chinese counterparts, in a sign that the relations are thawing ahead of a possible leaders’ meeting.

The bloc of Southeast Asian nations will host world leaders at a summit this weekend that will run alongside pivotal trade talks between the United States and China and serve as the first stop for U.S.