It also takes place ahead of a “pretty long meeting” between US President Donald Trump and Chinese President Xi Jinping in South Korea.
The two sides will build on “important consensus” that Trump and Xi had reached regarding economic and trade ties over a phone call in September this year, state media Xinhua reported citing a spokesperson from the Ministry of Commerce on Thursday (October 23).
The Chinese delegation will be led by Vice Premier He Lifeng, who is also a member of the Political Bureau of the Communist Party of China Central Committee. The US delegation includes Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer.”We can work out a lot of our questions and our doubts and our tremendous assets together,” Trump said on Wednesday (October 22) of his upcoming meeting with Xi Jinping.
He also claimed that the Chinese President’s stance on Russia-Ukraine war has shifted and that he would like the war to end. “He would now like—I’m not sure that he did at the beginning—he would now like that war to end,” Reuters quoted Trump as saying.
Trump would also push for his Chinese counterpart to resume purchasing soybean from US farmers.
The recent flare-up in US-China trade tensions followed China’s move to tighten restrictions on rare earth exports through new rules requiring government approval for any shipment containing even trace amounts of rare earths, along with disclosure of their intended use.
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