Kula Lumpur, Oct. 26 -- China and the United States on Sunday reached basic consensuses on a preliminary trade deal after two days of talks in Kuala Lumpur, ahead of a potential meeting of the presidents of the two countries.

The talks between Chinese and American economic officials were led by Chinese Vice-Premier He Lifeng, US Secretary of the Treasury Scott Bessent and US Trade Representative Jamieson Greer ahead of the November 10 expiration of a temporary tariff truce.

"The essence of China-US economic and trade relations is mutual benefit and win-win results, and the two countries gain from cooperation and lose from confrontation," Chinese Vice Premier He Lifeng said as reported by Xinhua.

Addressing reporters after the talks, Ch...