US-China Trade Talks Continue in Kuala Lumpur
China’s top trade negotiator, Li Chenggang, and Vice Premier He Lifeng, have arrived in Kuala Lumpur for the second day of high-stakes trade talks with the United States. The meetings, held on the sidelines of the Association of Southeast Asian Nations (ASEAN) summit, aim to de-escalate the ongoing trade war between the two economic giants.
Key Issues on the Agenda
The talks focus on resolving disputes over China’s Policy on rare earth exports, which the US views as a “global supply chain power grab”. The US had threatened new 100% tariffs on Chinese goods starting November 1, unless China scraps its restrictions.
*US Concerns and Chinese Response*
US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are leading the negotiations, emphasizing the need for China to roll back its export controls. China, however, maintains that its restrictions are necessary for national security and technological development.
Potential Meeting Between Trump and Xi
A positive outcome in the talks could pave the way for a meeting between US President Donald Trump and Chinese President Xi Jinping next week in South Korea. The White House has officially announced the meeting, but Beijing has yet to confirm.
*Trade War Escalation
The trade tensions between the US and China have been escalating, with both sides imposing tariffs and restrictions. The US had threatened new tariffs on Chinese goods, which could have severe ramifications for the global economy.
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