AsianFin -- U.S. President Donald Trump signaled his possible trip to China in the near term as Beijing on Wednesday confirmed the upcoming high-level trade talks between the world’s top two economies.
Credit：Xinhua News Agency
“[Chinese] President Xi has invited me to China and we’ll probably be doing that in the not too distant future. A little bit out, but not too distant.”Trump said during a meeting with Philippine President Ferdinand Marcos Jr. at the White House late Tuesday. He added that his administration will make decisions on his overseas trips in response to many invitations “pretty soon.”
During his remarks at the Oval Office, Trump improved U.S.-China relations and praised his rapport with Chinese leader Xi. He said the U.S. is “getting along with China very well. We have a very good relationship.” The president also noted one of results of the trade framework reached through U.S.-China negotiations in London last month: Beijing has resumed shipping to the U.S. “record numbers” of much-needed rare earth magnets.
The trip to China would mark Trump’s first in-person encounter with Xi, or even with Russian President Vladimir Putin, since the president returned to the White House this year. A Trump-Xi meeting could take place during Trump’s visit to Asia, possibly around the Asia-Pacific Economic Cooperation (APEC) summit, or a September ceremony in Beijing marking the 80th anniversary of the end of World War II, Reuters cited sources. Putin is also expected to attend that event.
Following Trump’s remarks, Beijing on Wednesday morning announced the next round of trade talks with U.S. would be held next week. Chinese Vice Premier He Lifeng will be in Sweden from July 27 to 30 for economic and trade talks with the United States upon mutual agreement, according to a spokesperson with the Ministry of Commerce of China (MOFCOM).
Following the important consensus reached during the phone talks between the two heads of state on June 5, the two sides will leverage the role of the China-U.S. economic and trade consultation mechanism, and continue to engage in consultations on economic and trade issues of mutual concern based on the principle of mutual respect, peaceful coexistence and win-win cooperation, said the spokesperson, when asked about updates about China-U.S. economic and trade talks.
U.S. Treasury Secretary Scott Bessent on Tuesday said he and other U.S. officials will meet with their Chinese counterparts next Monday and Tuesday. “We’ll be working out what is likely an extension” during talks in Stockholm, said Bessent. He also expressed upbeat on the trade with China. “I think trade is in a very good place with China,” said the Treasury chief.
Besides the possible tariff deadline extension, Bessent signaled the talks may help reach sort of agreements such as getting China to slow the “glut of manufacturing that they’re doing and concentrate on building a consumer economy.”
Bessent on Tuesday said U.S. and Chinese officials during the new talks could discuss China’s purchase of sanctioned Russian oil and Iranian oil. He repeated the issue on Wednesday, stating Washington wants to discuss China’s buying oil from Russia and Iran, two countries whose energy exports have been subject to U.S. sanctions. He added that “what they’re doing to aid Russia” in its invasion of Ukraine is also a topic that Washington wants to discuss.
Swedish Prime Minister Ulf Kristersson later Tuesday confirmed his country would host the new round of U.S.-China talks. “It is positive that both countries wish to meet in Sweden to seek mutual understanding,” Kristersson said on X. He noted the talks are not important for the U.S.-China relationship, but also “have significant importance for global trade and the economy.”
