A new round of trade talks between the US and China will take place next week. The main topic will be a discussion of tariff reductions. This is reported by Bloomberg.
During the meeting, US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifen are to consider ways to avoid a new escalation between the world’s two largest economies.
Bessent said that he plans a phone conversation with Lifen, and a personal meeting will take place soon:
“We will meet with him and the delegation in Malaysia – probably a week in advance to prepare for the meeting between the two presidents.
His comments came after US President Donald Trump expressed optimism about the possible outcome of the dialogue with the Chinese side. He made it clear that the negotiations could end with an agreement that would help reduce tensions, because it was because of the crisis that the American leader had previously threatened to raise tariffs. The statements appear to signal Washington’s desire to allay concerns about a possible trade war with Beijing, which could seriously damage the global economy.
“I think we’re doing very well. I think we’re improving relations with China”, – Trump said.
He stressed that, in his opinion, the meeting with Chinese President Xi Jinping at the APEC summit in South Korea in October will still take place.
As a reminder, on October 12, Trump considered canceling his first personal meeting with Xi after returning to the White House. The reason was dissatisfaction with Beijing’s decision to introduce large-scale control over rare earth metals. At the same time, Trump announced the introduction of a 100% surcharge on imports of Chinese goods from November 1.
Earlier this year, the parties agreed on a truce, according to which Washington suspended the 145% tariffs on Chinese goods, and Beijing agreed to resume supplies of rare earth magnets. The agreement expires in November.
