TheJakartaPost
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Facing deepening fractures in the global trade order, Asia-Pacific leaders adopted a joint declaration that emphasized the need for resilience and shared benefits in trade at the end of the annual APEC summit on Saturday.
Top economic officials from the US and China are due to arrive in Kuala Lumpur on Friday for talks to prevent a trade war escalation and keep next week's meeting between US President Donald Trump and Chinese President Xi Jinping on track.
Li, during a visit to Washington in August, had allegedly threatened that "China would unleash chaos on the global system if the US went ahead with our docking fees for Chinese ships", Bessent said in an interview with media outlet CNBC on Wednesday.
US President Donald Trump revived the trade war against Beijing on Friday, ending an uneasy truce between the two largest economies with promises to sharply hike tariffs in a reprisal against China curbing its critical mineral exports.
A group of US lawmakers on a rare visit to Beijing told China's No.2 leader, Premier Li Qiang, that the world's two largest economies need to step up engagement and "break the ice" as both superpowers made further inroads into stabilizing ties.
US President Donald Trump said he and Chinese President Xi Jinping made progress on a TikTok agreement and would meet face-to-face in six weeks in South Korea to discuss trade, illicit drugs and the Russia-Ukraine war.
