US-China Hold Economic and Trade Consultations Before Trump-Xi Summit
Ahead of the Trump-Xi summit, US Treasury Secretary Bessent and Chinese Vice Premier He Lifeng held economic and trade consultations in South Korea. The shortest meeting at 3 hours, it raised expectations for quick concrete results, aiming to resolve trade issues and establish a new 'competing without breaking' normal.
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- 📰 Published: May 14, 2026 at 11:52
- 🔍 Collected: May 14, 2026 at 12:02 (9 min after Published)
- 🤖 AI Analyzed: May 14, 2026 at 13:19 (1h 17m after Collected)
Central News Agency
(Central News Agency, Taipei, May 14) Before the Trump-Xi summit scheduled to take place in Beijing today, US Treasury Secretary Scott Bessent held the 7th round of US-China economic and trade consultations with Chinese Vice Premier He Lifeng in South Korea yesterday. The consultations lasted approximately 3 hours, making it the shortest among all rounds; analysts suggest that the content of the talks is expected to be quickly translated into concrete results.
According to comprehensive reports from official media CCTV News, Xinhua News Agency, and foreign wire services, Bessent later traveled to China to accompany US President Donald Trump on his three-day visit. Trump arrived in Beijing yesterday and is scheduled to hold widely anticipated talks with Chinese President Xi Jinping this morning.
Reports state that the two sides did not disclose the content of the economic and trade consultations, but external estimates suggest topics included China's purchase of Boeing aircraft, soybeans, and beef, as well as China easing controls on rare earth exports. The content of the talks is expected to be quickly translated into concrete results.
According to reports, at around 12 noon local time on May 13, economic and trade teams from both countries held consultations at Incheon International Airport in Seoul, South Korea. During the talks, both sides were guided by the important consensus of the two heads of state, upholding the principles of mutual respect, peaceful coexistence, and win-win cooperation, and conducted candid, in-depth, and constructive exchanges on resolving mutually concerned economic and trade issues and further expanding practical cooperation.
External observers believe that this meeting between high-level US and Chinese financial officials paved the way for the main event, the Trump-Xi summit. China News Service cited Zhang Jiadong, a professor at the Center for American Studies at Fudan University in Shanghai, who analyzed that even if previous US-China trade negotiations yielded results, it was difficult to quickly translate them into concrete outcomes for high-level talks. The current arrangement of the meeting in South Korea, close to China, and on the eve of the Trump-Xi summit, indicates that both sides hope to manage differences and achieve practical progress in the economic and trade fields, which is a positive signal.
Zhang Jiadong also pointed out that from a broad perspective, this US-China interaction is expected to lead to some political consensus after nine years of strategic games. The two sides are more likely to create a new normal, which is "competing without breaking," because both the US and China realize that continuous competition is inevitable and need to plan for bilateral relations over the next few decades, rather than striving for a short-term winner. (Editors: Chou Hui-ying / Lu Jia-rong) 1150514
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(Central News Agency, Taipei, May 14) Before the Trump-Xi summit scheduled to take place in Beijing today, US Treasury Secretary Scott Bessent held the 7th round of US-China economic and trade consultations with Chinese Vice Premier He Lifeng in South Korea yesterday. The consultations lasted approximately 3 hours, making it the shortest among all rounds; analysts suggest that the content of the talks is expected to be quickly translated into concrete results.
According to comprehensive reports from official media CCTV News, Xinhua News Agency, and foreign wire services, Bessent later traveled to China to accompany US President Donald Trump on his three-day visit. Trump arrived in Beijing yesterday and is scheduled to hold widely anticipated talks with Chinese President Xi Jinping this morning.
Reports state that the two sides did not disclose the content of the economic and trade consultations, but external estimates suggest topics included China's purchase of Boeing aircraft, soybeans, and beef, as well as China easing controls on rare earth exports. The content of the talks is expected to be quickly translated into concrete results.
According to reports, at around 12 noon local time on May 13, economic and trade teams from both countries held consultations at Incheon International Airport in Seoul, South Korea. During the talks, both sides were guided by the important consensus of the two heads of state, upholding the principles of mutual respect, peaceful coexistence, and win-win cooperation, and conducted candid, in-depth, and constructive exchanges on resolving mutually concerned economic and trade issues and further expanding practical cooperation.
External observers believe that this meeting between high-level US and Chinese financial officials paved the way for the main event, the Trump-Xi summit. China News Service cited Zhang Jiadong, a professor at the Center for American Studies at Fudan University in Shanghai, who analyzed that even if previous US-China trade negotiations yielded results, it was difficult to quickly translate them into concrete outcomes for high-level talks. The current arrangement of the meeting in South Korea, close to China, and on the eve of the Trump-Xi summit, indicates that both sides hope to manage differences and achieve practical progress in the economic and trade fields, which is a positive signal.
Zhang Jiadong also pointed out that from a broad perspective, this US-China interaction is expected to lead to some political consensus after nine years of strategic games. The two sides are more likely to create a new normal, which is "competing without breaking," because both the US and China realize that continuous competition is inevitable and need to plan for bilateral relations over the next few decades, rather than striving for a short-term winner. (Editors: Chou Hui-ying / Lu Jia-rong) 1150514
Choose to stand with facts. Every sponsorship you make is a force for protecting press freedom.
Download the Central News Agency "First-hand News" APP to get the latest news in real-time.
The text, images, and audio/video on this website may not be reproduced, broadcast publicly, transmitted publicly, or utilized without authorization.