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The Economic Times
The Economic Times

US, China begin fresh trade talks in South Korea ahead of Trump’s Beijing visit

Senior officials from the US and China on Wednesday began a fresh round of trade talks in Seoul, South Korea, just hours before US President Donald Trump is scheduled to arrive in Beijing.

Chinese and US delegations convened for the talks at Incheon International Airport, China’s state news agency Xinhua reported. The meeting is being seen as a precursor to Trump’s upcoming discussions with Chinese President Xi Jinping.

Also Read: Behind tariffs and tech curbs, US and China are learning to coexist as rivals

According to a report by the South China Morning Post, the delegations are being led by Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent. Both officials arrived at Incheon Airport around noon local time and also met South Korean President Lee Jae Myung earlier in the day.

This marks the seventh round of negotiations between He and Bessent since Trump returned to office last year and reignited a global tariff war. Unlike previous rounds that lasted nearly two days, the Seoul talks are expected to wrap up within hours, with Bessent set to travel to China later in the day to join Trump.

China’s foreign ministry confirmed earlier this week that Trump will visit Beijing from Wednesday to Friday, marking the first visit by a US president to China in more than eight years. Trump last travelled to China during his first term in 2017.

The two sides are expected to discuss Chinese purchases of US soybeans, beef and aircraft, along with Beijing’s export controls on critical minerals, according to SCMP. A key suspension related to those export controls is set to expire in November.

The ongoing US-Israeli war on Iran is also expected to come up during discussions. The conflict, now in its third month, has disrupted shipping routes and pushed commodity prices higher globally. Trump had earlier postponed his China trip because of the hostilities, with the visit initially planned for late March.

On Monday, the US Treasury Department announced sanctions on three individuals and nine companies accused of helping facilitate Iranian oil shipments to China.

Also Read: US CEOs seek China business gains from Trump-Xi summit

While the previous round of talks in Paris in March did not result in a major trade breakthrough, it was seen as helping stabilise ties between the world’s two largest economies.

Trump said on social media earlier this week that he was “very much looking forward” to the China visit and that “great things will happen for both countries”.

Several top US business leaders are also expected to accompany Trump on the trip, including Jensen Huang of Nvidia, Tim Cook of Apple, Elon Musk of Tesla and SpaceX, as well as executives from Boeing and Micron Technology.

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