US, China Prep Xi-Trump Summit With Trade Talks — SkimNews
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- Wang Yi spoke with US Secretary of State Marco Rubio on Thursday about preparing "next stage of high-level interactions" in the spirit of "equality, respect and reciprocity," with Xi expected to visit Washington September 24 and Trump planning to personally receive him at Andrews Air Force Base.
- Scott Bessent will meet Chinese Vice Premier He Lifeng this weekend ahead of the Trump-Xi summit to discuss extending the year-long US-China trade truce.
- Beijing and Washington are considering lower tariffs on selected American energy and agricultural goods, potentially extending a reciprocal framework covering about $30 billion in trade, with some Chinese products eligible for most-favoured-nation rates.
- An extended trade truce would remove a source of uncertainty for global markets already pressured by wars in Iran and Ukraine, higher oil prices, and renewed inflation concerns, according to the source.
- Wang Yi told Iranian Foreign Minister Abbas Araghchi in Beijing on Wednesday that Iran and the US should return to their June interim peace deal and reopen the Strait of Hormuz, bringing the Middle East onto the summit agenda.
Why it matters: A potential extension of the $30 billion reciprocal tariff framework would directly benefit American energy and agricultural exporters and Chinese manufacturers reliant on US inputs, while Beijing's push to position itself as a diplomatic broker between Washington and Tehran shows Xi intends to make the summit about more than bilateral trade.
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