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The United States and China conducted "very constructive" trade talks in Malaysia on Saturday, a US Treasury spokesman said, ahead of a highly anticipated meeting of their leaders in South Korea next week."Today's talks have concluded. They have been very constructive, and we expect them to resume in the morning," the spokesman told AFP.US Treasury Secretary Scott Bessent met with China's Vice Premier He Lifeng at Merdeka 118 -- the world's second-tallest building.The world's two biggest economies are seeking to avoid further escalating a damaging tit-for-tat tariff war, with US President Donald Trump expected to meet his Chinese counterpart Xi Jinping, in South Korea next Thursday.The US president has made it clear he hopes to seal a "good" deal with China and end the trade war, even though he previously threatened to cancel the meeting, held on the sidelines of the Asia-Pacific Economic Cooperation summit, starting October 31.Live EventsBeijing announced this month sweeping controls on the critical rare earths industry, prompting Trump to threaten 100 percent tariffs on imports from China in retaliation.The two countries also began charging arrival fees on each other's ships, sparked by a US "Section 301" investigation that found Beijing's dominance in the industry was unreasonable.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onmalaysia trade negotiationstrump xi meetingscott bessent he lifengus treasury china talksapec summit 2025us china tariff warrare earths export controlssouth korea trump visitus china economic relations (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onmalaysia trade negotiationstrump xi meetingscott bessent he lifengus treasury china talksapec summit 2025us china tariff warrare earths export controlssouth korea trump visitus china economic relations(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
