China-US trade rebounds, boosting global economic outlook with new tariff negotiation framework.

Economic relations between China and the United States are showing renewed vigor, with a notable rebound in bilateral goods trade during the second quarter, following an 18.7% slump in the first quarter. This positive shift is underpinned by recent diplomatic efforts to stabilize economic ties, including an agreement to negotiate a reciprocal tariff cut framework. This framework is expected to cover goods valued at $30 billion or more from each country, signaling a potential de-escalation of trade disputes.