Trump-Xi meeting still on! ‘Substantial communication’ between US-China, says US treasury secretary; What’s next?

Despite escalating trade tensions, US Treasury Secretary Scott Bessent remains optimistic about a meeting between Presidents Trump and Xi in South Korea. He stated that substantial communication occurred over the weekend following China’s imposition of rare-earth export controls. Bessent emphasized that the US will not accept these restrictions and is seeking global support to de-escalate the situation.