China and USA Prepare for New Round of Trade Talks Amid Growing Global Tensions
China has announced plans to hold another round of trade negotiations with the United States.
Deputy Premier of the State Council, He Lifeng, is scheduled to meet with American officials in Kuala Lumpur from October 24 to 27.
The aim of these talks is to stabilize bilateral trade relations and reduce escalating tensions between the world’s two largest economies, according to Bloomberg.The meeting will take place in Malaysia’s capital and focus on discussing key issues related to economic cooperation.
Representatives from China’s Ministry of Commerce stated that the negotiations are intended to foster mutual understanding and pave the way for constructive solutions.He Lifeng, a long-time confidant of Chinese leader Xi Jinping and key trade negotiator, held a phone conversation last week with U.S.
Treasury Secretary Steven Mnuchin.
The discussions focused on de-escalating recent measures imposed by both sides.
This upcoming meeting could serve as a foundation for future high-level talks between Xi Jinping and U.S.
President Donald Trump, potentially scheduled for the end of October during the Asia-Pacific Economic Cooperation summit in South Korea.Meanwhile, the U.S.
is preparing to implement export restrictions on certain products created with American technology to China.
This move forms part of a broader strategy aimed at tightening technological and economic controls over Beijing.
Additionally, U.S.
authorities are planning inspections of Chinese vessels in American ports.In response, China announced a crackdown on exports of rare earth metals and other critical materials, aiming to safeguard its strategic interests.
On October 20, the Chinese Ministry of Commerce convened a large meeting with foreign companies to reassure them that these export controls are not meant to hinder normal trade or global commerce, but rather to protect national sovereignty and economic security.