China, US set trade talks in Seoul ahead of Trump-Xi summit

Senior economic officials from China and the United States will hold trade talks in Seoul next week ahead of a summit between Presidents Donald Trump and Xi Jinping, The Korea Times reported Saturday.

The talks mark the highest-level economic contact between Washington and Beijing since the two nations imposed tit-for-tat tariffs roughly a year ago — a development closely watched by Korean-American business owners in Orange County with cross-Pacific trade ties.

Treasury Secretary Scott Bessent confirmed his participation in a post on X. "On Wednesday, I will stop in Seoul for a discussion with Vice Premier He Lifeng of China, before continuing on to Beijing for the Leaders' Summit between President Trump and President Xi," Bessent said.

China's commerce ministry said Vice Premier He Lifeng — the country's top economic official — would hold "consultations on mutual economic and trade issues" in Seoul, The Korea Times reported. The consultations are scheduled for Tuesday and Wednesday.

The Korea Times noted that Trump and Xi agreed to a year-long trade truce at their October meeting in South Korea. The Seoul talks are expected to lay groundwork for the upcoming summit in Beijing.

Beyond trade, the Taiwan issue and the Middle East conflict are expected to feature in discussions at the Beijing leaders' summit, according to The Korea Times.

Washington and Beijing began imposing tit-for-tat tariffs on each other's exports roughly a year ago, heightening economic uncertainty for businesses with cross-Pacific supply chains.

The outcome of the Seoul consultations and the Trump-Xi summit in Beijing is expected to shape trade policy between the world's two largest economies for the coming year.