In Kuala Lumpur, U.S. and Chinese top economic officials began talks on Saturday, which were described as ‘very constructive’ by a Treasury spokesperson. The discussions aim to defuse escalating trade tensions between the world’s two largest economies before the anticipated meeting between U.S. President Donald Trump and Chinese President Xi Jinping.
The talks occur on the fringe of the ASEAN summit and focus on potential relief on tariffs and technology controls. The negotiations are crucial as President Trump eyes a meeting with President Xi during the Asia-Pacific Economic Cooperation summit in South Korea. Agricultural trade, particularly U.S. soybeans, is among the significant areas of interest.
Documenting the fragile relationship, the negotiations unfold amid new trade curbs and escalating tensions over rare earths and technology exports, forming a delicate truce previously crafted by economic officials from both sides. The outcome of these talks remains pivotal as they try to navigate the complexities of mutual trade interests.
(With inputs from agencies.)