US President Donald Trump is ready to meet Chinese President Xi Jinping, while officials from both countries are working to organize a high -level meeting, said Finance Minister Scott Bessnt on Wednesday.
In an interview with CNBC Bessnt, he said the aim of Washington is to stabilize relationships with Beijing rather than escalate tension. “We do not want to escalate conflict with China and do not want to separate from the second largest economy in the world,” he said.
Meeting scheduled at the APEC Summit
The Summit in the Asian-Tichoral Economic Cooperation (APEC) will take place in South Korea 31 October and 1 November.
Bessnt stressed that the working relationship and “trust” between Trump and XI helped prevent the deterioration of a permanent trade dispute. “It is because of this trust that the business conflict has not yet been accumulated,” he said.
Comments come in the middle of renewed friction between two economic powers over tariffs and technology exports. A potential meeting of Trump -xi would mean the first direct connection between leaders from the return of Trump to the office and could signal the offer to stabilize global business links.
The upcoming Trump meeting with Xi Jinping this month was questioned after a new round of sharp exchanges over business and export controls that ruled the tension between Washington and Beijing.
Bessnt previously spoke to Fox News criticized Beijing’s timing of the admission of new export restrictions and described it as “very inappropriate” to do this on the same day, Trump introduced his agreement in the Middle East between Hamas and Israel.
Customs threats and growing friction
11th October Trump threatened to skip the meeting and store 100% tariff on all Chinese imports effective 1 November, in retaliation measures Beijing’s widespread export checks on elements of rare soils and other strategic materials.
Trump softens his tone
He seemed to have softened his tone and wrote, “Don’t worry about China, it will be all right! Highly respected President XI had only a bad moment. He doesn’t want to depress for his country, and even that.
Chinese defiant reaction
In a statement on October 14, the Chinese Ministry of Trade said Beijing was ready to respond firmly if Washington escalated the business conflict.
“If you want to fight, we will fight until the end; if you want to negotiate, our door remains open,” the ministry spokesman said.
The statement followed Trump’s accusation that China’s actions were “hostile and unprecedented”.
Reaction on the market
The US stock markets that fell after Trump’s initial customs threats were sharply reflected in October 13 when the administration softened its rhetoric towards China.
(Tagstotranslate) Trump (T) XI Jinping (T) US-Chinese Relations (T) Business Dispute (T) Tariffs (T) Summit Asia-Pacific Hospoonar (APEC)
