Bessent, Chinese vice premier to meet to try to defuse US tariff hike
(VOVWORLD) - US Treasury Secretary Scott Bessent said on Friday he expects to meet next week with Chinese Vice Premier He Lifeng in Malaysia to try to forestall an escalation of US tariffs on Chinese goods that President Donald Trump said was unsustainable.
Bessent made the announcement during a White House cabinet meeting and later confirmed plans for a meeting after a call with He on Friday evening. Bessent said on X the two officials "engaged in frank and detailed discussions regarding trade between the United States and China."
"We will meet in-person next week to continue our discussions," Bessent wrote.
The two officials previously met in four European cities over six months to hammer out a tariff truce that brought duties down from triple-digit levels for each country. That agreement expires on November 10.
Trump earlier on Friday blamed Beijing for the latest impasse, a dispute over China's sweeping new export restrictions on rare-earth minerals and magnets. He has threatened an additional 100% tariff on Chinese imports starting on November 1 unless Beijing scraps the restrictions.