Bescent and He Lifeng hold economic and trade consultations in Korea, laying the groundwork for US-China summit
US Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng held economic and trade consultations in South Korea, preparing for a summit between the leaders of the two major economies. This meeting aims to lay the foundation for future discussions and potentially establish a new trade mechanism.
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- 📰 Published: May 13, 2026 at 18:03
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Central News Agency
(Central News Agency, Incheon, May 13, comprehensive foreign news report) The economic and trade teams led by US Treasury Secretary Bescent (Janet Yellen) and Chinese Vice Premier He Lifeng respectively held talks in South Korea, preparing for a summit between the leaders of the two major economies. The outcome of today's economic and trade consultations will lay the groundwork for the Beijing summit.
According to Yonhap News, Bescent and He Lifeng met in the VIP lounge of Incheon International Airport to conduct final coordination on the agenda for the US-China presidential talks. US Treasury officials interviewed by Yonhap News at the airport did not disclose specific details of the talks, only stating that the meeting lasted about 3 hours. Both then flew to Beijing immediately after the talks.
Bloomberg reported that the primary topics of discussion between Bescent and He Lifeng likely included the latest developments in the Iran war and bilateral trade. Their last face-to-face meeting was held two months ago in Paris, shortly after the US and Israel launched attacks on Iran.
The results of today's economic and trade consultations will lay the groundwork for the summit between US President Trump and Chinese President Xi Jinping. Trump will visit China from May 13 to 15, marking the first visit by a US leader in nearly a decade. This trip was originally scheduled for March but was postponed due to the Iran war.
The White House has been pressing China and other countries reliant on Iranian oil imports to help reopen the Strait of Hormuz. Bescent also urged China to join the US escort operation in the strait. At the same time, the US has imposed sanctions on Chinese refineries processing Iranian crude oil.
In recent calls, the US and China have been discussing the possible establishment of a 'trade committee.' This idea was proposed during the Paris talks as both sides seek to create a new mechanism to oversee bilateral trade relations and manage bilateral issues that have continuously emerged in recent years.
Although a group of executives from finance, technology, aerospace, and agriculture accompanied Trump on his visit to China, significant breakthroughs are not widely expected. Attendees include Tesla CEO Elon Musk and Nvidia CEO Jensen Huang, who joined at the last minute. (Edited by Ho Hong-ru) 1150513
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(Central News Agency, Incheon, May 13, comprehensive foreign news report) The economic and trade teams led by US Treasury Secretary Bescent (Janet Yellen) and Chinese Vice Premier He Lifeng respectively held talks in South Korea, preparing for a summit between the leaders of the two major economies. The outcome of today's economic and trade consultations will lay the groundwork for the Beijing summit.
According to Yonhap News, Bescent and He Lifeng met in the VIP lounge of Incheon International Airport to conduct final coordination on the agenda for the US-China presidential talks. US Treasury officials interviewed by Yonhap News at the airport did not disclose specific details of the talks, only stating that the meeting lasted about 3 hours. Both then flew to Beijing immediately after the talks.
Bloomberg reported that the primary topics of discussion between Bescent and He Lifeng likely included the latest developments in the Iran war and bilateral trade. Their last face-to-face meeting was held two months ago in Paris, shortly after the US and Israel launched attacks on Iran.
The results of today's economic and trade consultations will lay the groundwork for the summit between US President Trump and Chinese President Xi Jinping. Trump will visit China from May 13 to 15, marking the first visit by a US leader in nearly a decade. This trip was originally scheduled for March but was postponed due to the Iran war.
The White House has been pressing China and other countries reliant on Iranian oil imports to help reopen the Strait of Hormuz. Bescent also urged China to join the US escort operation in the strait. At the same time, the US has imposed sanctions on Chinese refineries processing Iranian crude oil.
In recent calls, the US and China have been discussing the possible establishment of a 'trade committee.' This idea was proposed during the Paris talks as both sides seek to create a new mechanism to oversee bilateral trade relations and manage bilateral issues that have continuously emerged in recent years.
Although a group of executives from finance, technology, aerospace, and agriculture accompanied Trump on his visit to China, significant breakthroughs are not widely expected. Attendees include Tesla CEO Elon Musk and Nvidia CEO Jensen Huang, who joined at the last minute. (Edited by Ho Hong-ru) 1150513
Choose to stand with facts, every sponsorship you make is a force to protect press freedom.
Download the Central News Agency 'First-hand News' APP to instantly grasp the latest news.
The text, images, and videos on this website may not be reproduced, publicly broadcast, publicly transmitted, or utilized without authorization.