US-China Trade: trump and Xi Set to Meet Amid Escalating Trade war – Key Highlights
Upcoming Trump-Xi Meeting at APEC Summit
US Treasury Secretary Scott Bessant confirmed President donald trump will meet Chinese President Xi jinping soon.
The meeting is likely to take place during the Asia-Pacific Economic Cooperation (APEC) summit this month.
Bessant noted trump is fully prepared and maintains a "very good" relationship with Xi.
Ongoing High-Level US-China Talks
High-level and working-level discussions are ongoing between the two nations.
These talks are taking place alongside the annual IMF and World bank meetings.
Bessant expressed optimism about increasing dialogue and potential progress.
Trade Tensions Continue to Escalate
China recently imposed restrictions on the export of rare earth minerals.
In response, trump threatened to cancel the meeting and announced a new tariff package.
The US imposed a 100% additional tariff on Chinese imports and expanded software export controls.
Significance of the APEC Meeting
Analysts suggest the Trump-Xi meeting could ease trade tensions.
A return to direct talks may help stabilize global markets.
Despite the meeting, the environment remains tense due to recent policy moves by both sides.
China Responds Critically to US Actions
China's Commerce Ministry condemned the US tariffs and export controls as "hostile."
Beijing urged Washington to pursue dialogue based on equality.
China warned it does not seek a trade war but will defend its interests if needed.
Allegations of Double Standards by the US
China criticized the US for using national security to justify sanctions.
Accused the US of politicizing China’s export policies and violating international trade norms.
Beijing stated that such actions harm bilateral cooperation and global trade stability.
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