US, China Reach Trade Framework – Bessent
Treasury Secretary Scott Bessent listens as President Donald Trump speaks before a lunch with Ukraine’s Volodymyr Zelensky in the Cabinet Room of the White House, Friday, Oct. 17, 2025, in Washington
The US and China reached a “very successful” framework for the upcoming leaders’ summit, Treasury Secretary Scott Bessent said after two days of talks in Malaysia.China’s top trade negotiator Li Chenggang and VP He Lifeng are sitting down with Bessent and Trade Representative Jamieson Greer on the sidelines of the ASEAN summit in Malaysia. The talks aim to ease tensions after Donald Trump threatened to slap new 100% tariffs on Chinese goods starting November 1, in response to Beijing’s expanded export controls on rare earth materials and key manufacturing inputs. Bessent made it clear that the White House might delay imposing new tariffs until after Trump and Chinese President Xi Jinping meet in South Korea to allow them time to resolve trade spat-related issues. China earlier reiterated its call for “equal” trade talks, with Chinese FM spokesman Guo Jiakun stressing that “tariff wars and trade wars are not in the interests of any parties.”
WorldUS, China Seek to Ease Tensions in ‘Very Constructive’ Malaysia Trade TalksYesterday, 15:43 GMT
