Trade negotiators led by US Treasury Secretary Scott Bessent and China's Vice Premier He Lifeng held talks in Seoul to prepare for this week's summit between the leaders of the world's two biggest economies. The war in Iran and the latest developments in bilateral trade were likely among the topics topping the agenda during talks lasting about three hours, which concluded around 3:50 p.m. local time. The teams last met face-to-face in Paris two months ago, not long after the US and Israel attacked Iran.
The two sides "held candid, in-depth and constructive exchanges in South Korea on economic and trade issues of mutual concern, as well as on further expanding practical cooperation," the official Xinhua News Agency reported. No US readout of the discussions has been provided yet.
The outcome of their meeting on Wednesday will set the stage for Donald Trump's summit with his Chinese counterpart, Xi Jinping, on May 13-15 — the first visit by a US president to Beijing in nearly a decade. It was delayed from March due to the Iran war.
The White House has been pressuring China along with other countries that rely on Iranian oil imports to help reopen the Strait of Hormuz — calls Beijing and US allies have side-stepped. Bessent has also urged China to join an American operation to escort ships through the waterway, with the US sanctioning refiners in China that process Iranian crude.
In recent calls, China and the US have been discussing a possible “Board of Trade,” a proposal introduced during the Paris talks, as the two sides search for a new mechanism that could help oversee their commercial ties and manage bilateral concerns that have flared in recent years.
While Trump is bringing an entourage of executives spanning major financial, technology, aerospace and agricultural firms, expectations are low for breakthroughs. His line-up includes Tesla Inc.'s Elon Musk and Nvidia Corp. CEO Jensen Huang — who was a last-minute addition.
“I will be asking President Xi, a Leader of extraordinary distinction, to 'open up' China so that these brilliant people can work their magic, and help bring the People's Republic to an even higher level!” Trump said in a social media post.
Separately on Wednesday, Bessent and He — China's economic czar and top trade negotiator — also met South Korea's President Lee Jae Myung in Seoul.
Lee told He that stable relations between the US and China would greatly contribute to the development and prosperity of countries around the world, according to the presidential Blue House. He also emphasized the need to further expand cooperation in a way that contributes to the livelihoods of the people in both countries, spokeswoman Kang Yu-jung told reporters during a briefing.
The Chinese vice premier, in turn, said that amid global uncertainties, the strategic leadership of Xi and Lee had helped sustain a positive trajectory in bilateral relations.
The meeting is putting a spotlight on efforts by Seoul to position itself as a constructive player against the backdrop of an intensifying rivalry between the US and China.
The conflict in the Middle East, which began in late February, has unleashed an oil crisis that's exposed the vulnerabilities of economies like South Korea, which imports the majority of its energy, including about 70% of its crude, via the Strait of Hormuz.
Ties with Beijing are particularly crucial for Lee, who's sought to ease tensions with nuclear-armed North Korea.
China remains Pyongyang's most important backer, providing crucial economic support while the US and its allies maintain sanctions. In September, the Chinese president hosted his Russian counterpart, Vladimir Putin, and North Korean leader Kim Jong Un at a military parade in Beijing, where Xi and Kim pledged to deepen cooperation.
The South Korean president visited Beijing to meet Xi in January this year, following the Chinese leader's trip to the South in late October, as Seoul seeks a “full restoration” of bilateral ties.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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