Reuters :
U.S. Treasury Secretary Scott Bessent said on Friday that he plans to meet Chinese Vice Premier He Lifeng in Malaysia next week in an effort to ease escalating trade tensions between Washington and Beijing.
The announcement came shortly after Bessent and He held what both sides described as a “frank and detailed” phone conversation about trade relations.
Speaking during a White House cabinet meeting, Bessent said the two sides would meet in person to continue talks aimed at preventing a new round of U.S. tariffs on Chinese goods.
“We will meet in-person next week to continue our discussions,” Bessent later wrote on X (formerly Twitter).
China’s state news agency Xinhua confirmed the planned meeting, saying both officials had “candid, in-depth, and constructive discussions on major issues in bilateral economic and trade relations.”
The report added that both countries agreed to hold a new round of trade talks as soon as possible.
The two top economic officials have met several times in Europe over the past six months, negotiating a temporary tariff truce that reduced duties from triple-digit levels.
That agreement, however, is set to expire on November 10, raising fears of renewed tensions between the world’s two largest economies.
The upcoming talks in Malaysia, a major Southeast Asian exporter and U.S. trading partner, mark a shift in venue for the dialogue.
The country’s semiconductor and electronics industries have recently faced growing pressure after the U.S. imposed a 19per cent duty on certain goods and threatened 100per cent tariffs on semiconductor-related exports under a national security review.
President Donald Trump, meanwhile, blamed Beijing for the latest impasse, citing China’s new export restrictions on rare-earth minerals and magnets — materials critical to technology manufacturing.
Trump warned that if China doesn’t lift these restrictions, the U.S. would impose an additional 100per cent tariff on Chinese imports starting November 1.
When asked whether such tariffs were sustainable, Trump admitted, “It’s not sustainable, but that’s what the number is,” adding that Beijing’s actions had “forced” his hand.
He also suggested that further export controls could be imposed, potentially blocking U.S. companies from supplying “any and all critical software” to China.
Analysts warn that a full-scale trade war could disrupt global supply chains, especially in sectors like electronics, semiconductors, and renewable energy, where both nations play leading roles.
Despite the sharp rhetoric, Trump expressed optimism about reaching an understanding with Chinese President Xi Jinping, whom he is scheduled to meet in South Korea in two weeks. “I think we’re going to be fine with China,” Trump told Fox Business Network. “But we have to have a fair deal. It’s got to be fair.”
