U.S. and Chinese negotiators are working on a framework to end the trade dispute between the two countries, which would revolve around talks between President Trump and Chinese President Xi Jinping when they meet for international summits in November, the Wall Street Journal reports, citing officials from both countries.

The big picture: The Journal says both the U.S. and China have scheduled "midlevel talks" in Washington for next week. But as Axios' Erica Pandey notes, trade talks between the two countries have failed in the past, so there's no guarantee that the next round of discussions will bring an end to the escalating dispute. Nonetheless, both sides have incentives to find a way out, as businesses and consumers continue to feel the brunt of the tariffs.