In fresh developments, the United States and China’s trade teams have commenced negotiations on the current Trump tariffs. This comes ahead of the meeting between the two Presidents set for October 30.
U.S. and China Resume Dialogue on Trump Tariffs in Malaysia
According to Bloomberg, Chinese Vice-Premier He Lifeng and U.S. Treasury Secretary Scott Bessent launched a new round of trade talks in Kuala Lumpur on the early hours of Saturday.
The meeting is the latest attempt to improve the strained U.S.–China relations after a turbulent few months of tariff measures and retaliatory sanctions.
According to China’s Ministry of Commerce, the agenda focuses on “issues crucial to economic and trade relations,” though no detailed statement was released. Both delegations began their closed-door sessions mid-morning and were expected to continue late into the evening, possibly resuming on Sunday.
This marks the fifth in-person meeting between He Lifeng and Bessent since President Donald Trump started the trade war earlier this year. The dialogue follows a recent video call between the two leaders, which led to the current discussions.
White House Press Secretary Karoline Leavitt confirmed that Trump and Xi Jinping will meet later this month in Washington. This would be their first face-to-face engagement since the US President’s return to office.
Analysts suggest that a successful summit could lead to temporary tariff rollbacks, especially on U.S. agricultural exports. Beijing’s earlier freeze on U.S. soybean imports had impacted American farmers.
Key Talking Points Ahead of the Oct 30 Summit
Sources familiar with the matter say the U.S., China, and the Malaysian hosts have kept most details under wraps. However, the discussions are expected to set the stage for negotiations on the Trump tariff at the upcoming Asia-Pacific Economic Cooperation (APEC) summit in South Korea next week.
The US President, speaking before departing Washington for his Asia tour, highlighted agricultural trade and regional security as the core issues.
“We have a lot to talk about with President Xi, and he has a lot to talk about with us. I think we’ll have a good meeting,” he told reporters aboard Air Force One.
Trade experts believe the focus will be on easing the Trump Tariff rate, currently around 157%. They will also address concerns over technology controls and rare-earth exports. China’s decision earlier this month to tighten restrictions on these critical minerals further escalated tensions.
The easing rhetoric has already rippled through global markets. Reports indicate that the so-called “Trump insider whale” has begun closing Bitcoin short positions amid growing optimism that a new trade framework could stabilize global risk assets. Major cryptocurrencies and stock indices have also since rebounded.
Source: https://coingape.com/trump-tariff-tensions-ease-as-u-s-and-china-hold-positive-trade-talks-ahead-of-oct-30-summit/
