The planned meeting aims to de-escalate tensions over tariff threats and export controls between the world’s two largest economies.
“We have substantially de-escalated,“ Bessent stated during his Fox Business Network interview.
The leaders plan to meet during South Korea’s Asia-Pacific Economic Cooperation forum summit later this month.
The ministry spokesperson warned that America cannot demand talks while simultaneously threatening new restrictive measures.
Trump’s Friday tariff threat had triggered significant market sell-offs amid existing investor anxiety about AI-driven market froth.
“The 100% tariff does not have to happen,“ Bessent asserted while describing the overall relationship as good despite recent tensions.
The Treasury Secretary said the United States expects support from European allies, India, and Asian democracies regarding China’s actions.
China defended its rare earth export controls while calling Trump’s threatened 100% tariffs hypocritical on Sunday.
Bessent confirmed the United States would reject China’s licensing requirements during his television interview. – Reuters
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