US and Chinese trade negotiators have agreed “a very positive framework” for Donald Trump and Xi Jinping’s meeting this week, US Treasury secretary Scott Bessent said, suggesting they will extend a trade war ceasefire due to expire next month.
Bessent, US trade representative Jamieson Greer and Chinese vice-premier He Lifeng on Sunday wrapped up two days of trade talks in Malaysia. “I would describe [the negotiations] as constructive, far-reaching, in-depth and giving us the ability to move forward and set the stage for the leaders’ meeting in a very positive framework,” Bessent said.
Asked if the two countries could extend the trade truce, which is set to expire on November 10, Bessent said: “I would say yes.” But he cautioned that on the American side, the final decision would be up to Trump.