President Donald Trump and Chinese President Xi Jinping are expected to reach a deal to avert a new 100% U.S. tariff on Chinese goods.

Treasury Secretary Scott Bessent said Sunday that the U.S. and China will likely avoid 100 percent American tariffs on Chinese good after negotiators settled on a plan for a possible trade

The president said on his social media site that he is imposing these new tariffs because of export controls placed on rare earth elements by China.

Nathan leads Wirecutter Deals, a group of seven journalists who track prices on our product recommendations every day of the year. For the past six months, his team has put particular focus on monitoring every single price change on 40 Wirecutter picks with the intention of seeing how tariffs would affect pricing.

U.S. delivery companies are on track to handle 2.3 billion packages this holiday season, 5% more than last year, ShipMatrix forecasts.

China and the ASEAN bloc of Southeast Asian nations signed an upgrade to their free trade agreement on Tuesday, with leaders hailing the deal which spans the digital and green economy, and other new industries.