Trump-Xi meeting still on! ‘Substantial communication’ between US-China, says US treasury secretary; What’s subsequent?

The meeting between US President Donald Trump and Chinese President Xi Jinping is still very a lot on the desk whilst the 2 nations get embroiled in escalating commerce tensions.US treasury secretary Scott Bessent on Monday mentioned that he still expects a meeting between the 2 presidents.“He will be meeting with Party Chair Xi in Korea – I believe that meeting will still go ahead,” Bessent instructed Fox Business. He additional added that the 2 sides have had “substantial communication” over the weekend after Beijing didn’t reply to US queries, seemingly regarding final week’s announcement on rare-earth export controls.The Chinese measures impose strict world controls on merchandise containing even small quantities of sure uncommon earths, sparking a pointy response from the White House. Earlier on Friday, Trump threatened to cancel his deliberate meeting with Xi on the Asia-Pacific Economic Cooperation summit in South Korea later this month and introduced an extra 100% tariff on Chinese items beginning November 1, Bloomberg reported.

‘China versus the world’ — What’s subsequent?

“This is China versus the world – they’ve aimed a bazooka at the supply chains and industrial base of the entire free world, and we’re not going to accept that,” Bessent mentioned.The treasury chief emphasised that “we will not let these export restrictions and monitoring continue. And I believe China remains open to discussion on this.” He can be calling for “strong global support – from the Europeans, from the Indians, from the democracies in Asia,” Bloomberg quoted Bessent.Bessent additionally revealed that “staff-level meetings” with Chinese officers might be happening in Washington through the annual International Monetary Fund and World Bank conferences. He expects to fulfill China’s vice premier “in Asia” earlier than the Trump-Xi encounter. Vice Premier He Lifeng has been Bessent’s counterpart in a number of rounds of commerce negotiations this 12 months.When requested what leverage the US may use to steer China to reverse its export controls, Bessent mentioned “everything’s on the table,” whereas expressing optimism that tensions “can be de-escalated.”