Top U.S. and Chinese officials agreed on Saturday to resume high-level trade and economic consultations "as soon as possible," according to both governments.
The move comes amid escalating disputes that threaten to further destabilize the global trade order.
Chinese Vice Premier He Lifeng held a video call with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer to discuss implementing previous agreements between Presidents Xi Jinping and Donald Trump, Chinese state broadcaster CGTN reported.
The two sides “had frank, in-depth, and constructive discussions,” the Chinese Foreign Ministry said, while agreeing to schedule another round of talks in the coming weeks, possibly during a bilateral meeting in Malaysia next week.
The renewed dialogue follows months of uncertainty after the expiration of a tariff-reduction truce brokered earlier this year. While Washington insists the two countries are not in a "trade war," recent actions suggest rising friction.
Beijing has strongly criticized what it describes as unilateral and discriminatory U.S. trade policies. In a statement to the World Trade Organization (WTO), China accused the United States of undermining the multilateral trading system since 2025 by imposing “reciprocal tariffs” and blocking the reappointment of WTO appellate body judges, effectively paralyzing the global dispute settlement mechanism.
"The U.S. continues to abuse unilateral sanctions and extraterritorial jurisdiction, violating the principles of free markets and fair competition," China’s WTO mission said. Beijing called on Washington to honor its international obligations and respect WTO rules.
U.S. President Donald Trump, for his part, has escalated rhetoric against Beijing. On Friday, he blamed China for introducing sweeping new export restrictions on rare earth elements and magnets, critical components for advanced electronics and defense technologies.
“If China doesn’t reverse these restrictions, we will impose 100% tariffs on all Chinese imports starting November 1,” Trump warned in an interview with Fox Business. He admitted such measures are “not sustainable,” but said, “They forced my hand.”
Trump also threatened to impose new U.S. export controls, potentially halting software exports deemed critical to China's tech sector.
Next week’s potential meeting in Malaysia adds a regional dimension to the dispute. The Southeast Asian country, a key electronics hub, faces the threat of 100% U.S. tariffs on semiconductors and related goods, as part of a national security review reported by CNBC.
Treasury Secretary Bessent confirmed on X (formerly Twitter) that he will meet Vice Premier He in person next week to “continue our discussions and prevent further escalation.”
Still, tensions remain high. Earlier this week, Bessent reportedly described one of He's aides as "unhinged" in recent trade exchanges, a comment China quickly condemned as “a gross distortion of the facts.”
The disagreements go beyond tariffs. China’s Ministry of Commerce accused Washington of weaponizing industrial and security policy under the guise of national interest. In a strongly worded statement, it said the U.S. had “consistently violated non-discrimination principles” and promised to step up its use of WTO dispute mechanisms.
Despite the sharp rhetoric, both sides expressed interest in avoiding a collapse in economic ties. U.S. officials remain “confident in the potential for a balanced and mutually beneficial path forward,” Bessent said.
For now, all eyes are on the upcoming face-to-face meeting, which could determine whether the world’s two largest economies pull back from the brink, or spiral further into confrontation.
Follow the latest news on Google News
