China and the United States sign a $600 million trade agreement

According to official Chinese media, a Chinese trade delegation signed a $600 million agreement with unnamed U.S. companies in Houston on Monday, marking the start of a four-day trade mission across the United States. This visit comes just one day before the high-profile U.S.-China summit, which is being seen as the most significant meeting between the two nations since Deng Xiaoping’s historic trip to Washington in 1979. The agreements, led by Vice Minister of Commerce Wang Chao, cover a range of key sectors. These include Texas importing cotton from mainland China, Jiangxi Province exporting ceramic art pieces to Texas, Shanghai General Motors sourcing parts from U.S. General Motors, and Zhejiang Power Technology Corporation collaborating with a California-based semiconductor association on solar cell technology. The Houston delegation, organized by the Houston Big Business Partnership, includes 120 officials and business leaders from various industries such as trade, healthcare, biotechnology, real estate, manufacturing, banking, and education. The group will also travel to cities like Washington, Boston, Chicago, Minneapolis, North Carolina, Frankfurt, and Kentucky this week, where similar business events are planned. While the total value of deals announced could reach into the billions, U.S. industry representatives have been cautious about providing exact figures. Meanwhile, U.S. President Barack Obama and his administration are expected to address a wide array of issues during the summit, including regional stability in the Korean Peninsula and concerns over the growing U.S.-China trade deficit. This year, China's trade deficit with the U.S. is projected to hit $270 billion, and both sides continue to exchange blame over global trade challenges. The summit is seen as a critical step in strengthening economic ties and addressing long-standing disputes between the world’s two largest economies.