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U.S. Treasury Secretary Scott Bessent arrived in South Korea on Wednesday for high-level trade discussions with Chinese Vice Premier He Lifeng ahead of the much-anticipated summit between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing later this week.
The two-day Beijing summit, scheduled from Thursday to Friday, is expected to focus on strengthening economic cooperation between the world’s two largest economies while addressing ongoing trade tensions and technology disputes. Officials from both nations are preparing a broad agenda covering trade, investment, agriculture, energy, and semiconductor policies.
Bessent landed at Incheon International Airport but declined to comment to reporters regarding the upcoming negotiations. According to South Korean officials, both Bessent and He are scheduled to meet separately with South Korean President Lee Jae Myung at the Blue House on Wednesday morning.
China’s Vice Commerce Minister Li Chenggang, who serves as the country’s lead trade negotiator, is also participating in the discussions alongside He Lifeng. Local media outlet News1 reported that the trade talks are expected to take place inside a reception room at Incheon airport.
U.S. officials indicated that Washington and Beijing may agree to establish new forums aimed at improving bilateral trade and investment cooperation during the summit. China is also expected to announce major purchases involving Boeing aircraft, American agricultural products, and U.S. energy supplies as part of efforts to stabilize economic ties.
Meanwhile, Beijing continues to push the United States to ease restrictions on advanced semiconductor exports. Chinese officials have also expressed concerns over proposed U.S. legislation designed to limit China’s access to critical chip-making equipment.
The upcoming Trump-Xi meeting is being closely watched by global markets as investors look for signs of easing tensions between the United States and China amid ongoing economic uncertainty in international trade.
