US And China To Hold Two-day Trade Talks In Malaysia On Weekend
WASHINGTON, Oct 23 (Bernama-Kyodo) -- The United States (US) and China will hold another round of high-level trade talks this weekend in Malaysia to pave the way for a meeting between the presidents of the world's two largest economies, Kyodo News Agency reported, citing US Secretary of the Treasury Scott Bessent.
"I'm leaving this evening. (US Trade Representative) Jamieson Greer is already on his way to Kuala Lumpur," Bessent told Fox Business Network on Wednesday, adding their talks with a Chinese delegation led by the Vice Premier He Lifeng will take place on Saturday and Sunday at the 47th ASEAN Summit.
Bessent said his team is hoping to iron out some differences with Chinese officials, so that the US President Donald Trump and Chinese President Xi Jinping "can enter their talks on a more positive note."
"It would be a shame to waste their first in-person meeting during President Trump's second term," he said.
Bessent noted that both sides are seeking to overcome some obstacles and move toward "more constructive dialogue between the US and China."
Trump has expressed confidence about striking deals with Xi, without providing a basis for his optimism.
On Wednesday, Trump told reporters at the White House that the US will make a deal on everything, ranging from one on China's resumption of soybean imports from the country to hopefully about nuclear disarmament.
Trump suggested there will at least be an agreement on rare earth minerals.
During the planned meeting, which Trump said is likely to be long, and plans to discuss with Xi how to end Russia's war in Ukraine.
"I think he can have a big influence on (Russian President Vladimir) Putin," Trump said.
Trump, after visiting Malaysia and Japan, and Xi are both set to travel to South Korea for an Asia-Pacific Economic (APEC) summit next week.
Bessent made it clear that Trump is now scheduled to do a pull-aside meeting with Xi then.
Their fifth round of high-level trade discussions since spring comes amid a fresh flare-up in bilateral tensions.
China announced new export controls on rare earth elements earlier this month, and Trump threatened to impose an additional 100 per cent tariff on goods from the Asian economic powerhouse in retaliation.
Trump is set to depart later this week for his first trip to Asia since returning to the White House in January.
The State Department said Secretary of State Marco Rubio will travel to Malaysia, Japan and South Korea from Sunday to Oct 30.
Before travelling to Asia, it said Rubio will make a four-day trip to Israel through Saturday.
-- BERNAMA-KYODO
