US, China Hold Very Constructive Trade Talks Ahead of Leaders' Meeting

The United States and China conducted "very constructive" trade talks in Malaysia ahead of a crucial meeting between President Donald Trump and Chinese leader Xi Jinping in South Korea. US Treasury Secretary Scott Bessent and China's Vice Premier He Lifeng led the negotiations, which aimed to de-escalate the ongoing tariff war and address recent measures such as China's controls on rare earths and reciprocal arrival fees on ships. President Trump expressed hope for a "good" deal and acknowledged that both sides would need to make concessions to reduce the unsustainable 157% tariff rate imposed on China. These talks set the stage for discussions at the Asia-Pacific Economic Cooperation summit, with Trump also scheduled to meet Malaysian Prime Minister Anwar Ibrahim to discuss trade and security. While Chinese officials made no public comments following the lengthy meetings, the US emphasized the constructive nature of the negotiations and planned to resume talks. The objective remains to avoid further damaging trade escalations and reach agreements beneficial to both economies.