US Treasury Secretary Scott Besent announced on Wednesday that President Donald Trump is scheduled to meet Chinese President Xi Jinping later this month in South Korea. Speaking to CNBC, Besent revealed that officials from both countries remain in daily contact, emphasizing that Washington does not want to sever trade ties with Beijing entirely.
Besent highlighted that the mutual trust between Trump and Xi has helped prevent the trade dispute from escalating further. Recently, China tightened controls on rare earth exports, prompting Trump to threaten increased tariffs in response.
He also noted that Beijing’s move was pre-planned. In August, a Chinese official warned that if the US imposed port fees on Chinese vessels, it could trigger “global chaos.”
This upcoming meeting signals a continued effort by both nations to navigate a complex trade relationship while avoiding a full-blown economic conflict.
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