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President Trump announced earlier Wednesday morning that the US and Chinese officials have reached a trade deal, which includes a 55% tariff on imported goods from China. Both nations' leaders have yet to officially agree upon the terms. US Treasury Secretary Scott Bessent is scheduled to testify before lawmakers on Capitol Hill. Ahead of Bessent's testimony, Yahoo Finance senior Washington reporter Jennifer Schonberger outlines the details of the proposed trade agreement and Bessent's comments about the trade talks. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.