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View all search resultsTop 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.
US Democrats have asked the Trump administration to press China to curb "structural overproduction", essentially overhauling Beijing's economic model, as Treasury Secretary Scott Bessent holds talks with Chinese officials in Spain.
Top US and Chinese economic officials will resume talks in Stockholm on Monday to try to tackle longstanding economic disputes at the center of a trade war between the world's top two economies, aiming to extend a truce by three months and keeping sharply higher tariffs at bay.
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