Kuala lumpur: The US and China have commenced discussions on economic and trade issues in Malaysia, marking a significant step in addressing bilateral tensions. These talks are crucial as they aim to navigate the complex dynamics of China-U.S. economic and trade relations, following vital agreements made by their leaders during phone conversations earlier this year.
According to Syrian Arab News Agency, the discussions are being conducted on the fringes of the Association of Southeast Asian Nations (ASEAN) summit. The aim is to prevent further deterioration in relations, especially after former President Trump threatened to implement new 100 percent customs duties on Chinese imports and additional trade restrictions, a measure set to begin on November 1. This move by the US was in reaction to China’s decision to expand export controls on magnets and rare earth metals.
Leading the Chinese delegation is Vice Premier He Lifeng, who is also a member of the Political Bureau of the Communist Party of China Central Committee. His presence underscores the importance that China places on these negotiations as both nations strive to find common ground amid escalating trade tensions.