Incheon (TDI): US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held discussions in South Korea on Wednesday as both sides prepared for the upcoming summit between US President Donald Trump and Chinese President Xi Jinping in Beijing.
The meeting took place at Incheon Airport after the two officials separately met South Korean President Lee Jae Myung at the presidential office.
The talks are seen as part of preliminary efforts to shape the agenda for the high-level summit between Trump and Xi, scheduled for Thursday and Friday in Beijing.
Analysts believe the discussions between Bessent and He are mainly aimed at gauging each other’s positions rather than achieving immediate breakthroughs. Experts say both countries appear to be maintaining a cautious approach ahead of the summit.
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Several senior Chinese officials accompanied Vice Premier He, including Vice Commerce Minister Li Chenggang and Vice Finance Minister Liao Min, Reuters reported.
According to US officials, the Beijing summit is expected to focus heavily on trade and investment ties between the world’s two largest economies. Both sides may agree to establish mechanisms aimed at reducing economic tensions and improving commercial cooperation.
China is also reportedly expected to announce purchases involving Boeing aircraft, American agricultural goods, and energy products.
Beijing, meanwhile, is seeking relaxation of US restrictions on advanced semiconductor exports and has expressed concerns over American measures limiting China’s access to critical chip-making technology.
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Rare earth exports are also likely to feature in discussions. While both countries are considering extending the current truce over export controls, recent Chinese customs data suggests Beijing continues to limit shipments of rare earth materials considered essential for manufacturing and defense industries.
The ongoing Iran conflict is also expected to be part of summit discussions, particularly because China remains one of the largest buyers of Iranian oil and maintains close relations with Tehran.
