China has expressed its willingness to resume trade negotiations with the United States as soon as possible, in an effort to avoid a further escalation of tariffs, state news agency Xinhua reported on Monday.
The statement came after a video conference between Chinese Vice Premier and chief trade negotiator He Lifeng and US Treasury Secretary Scott Bessent. According to Xinhua, the talks were “candid, in-depth and constructive.”
Tensions between the world's two largest economies have intensified over the past week, after Beijing announced new controls on exports of rare metals and technologies for processing them - a move seen as a response to ongoing pressure from Washington.
Meanwhile, Scott Bessent stated that he will hold a meeting with He Lifeng next week as part of preparations for the new round of negotiations.
Along the same lines, the US president has reiterated that he is willing to meet soon with Chinese President Xi Jinping, signaling Washington's desire to avoid further escalation in trade relations.
