Scott Bessent Meets Chinese Delegation in Seoul for Trade Talks
The U.S. Secretary of the Treasury, Scott Bessent, arrived in South Korea this Wednesday to engage in crucial economic and trade negotiations with a Chinese delegation led by Vice Prime Minister He Lifeng. This meeting comes just before the highly anticipated summit between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing.
Details of the Meetings
According to South Korean news agency Yonhap, Bessent landed at Incheon International Airport after wrapping up an official visit to Japan, where he met with Japanese Prime Minister Sanae Takaichi and other cabinet members prior to traveling to South Korea and later, China.
The Chinese state media Xinhua confirmed that the U.S. and Chinese delegations commenced their trade discussions at Incheon airport, although details regarding the specific agenda and duration of the meetings remain undisclosed.
Aiming for Constructive Deliberations
During the Seoul talks, Bessent and He agreed to consult on “economic and commercial matters of common interest” as a preparatory step for the upcoming Trump-Xi meeting. They will reference the key agreements reached during their previous meeting in Busan in October 2025, which established a one-year trade truce that brought an end to a protracted tariff war between the two economic powerhouses.
This truce had previously seen both Washington and Beijing impose reciprocal tariffs that exceeded 100% on exports between the two countries.
Continuing Negotiation Efforts
The ongoing discussions in Seoul are part of a broader series of bilateral contacts initiated post-truce. For instance, in March, He and Bessent conducted a two-day round of talks in Paris, which included U.S. Trade Representative Jamieson Greer. Following those discussions, both sides described the talks as “constructive.”
Future dialogues aim to address various critical issues, including increased Chinese purchases of U.S. agricultural products, energy, and aircraft. Discussions also touched on setting up a “trade board” to facilitate and manage bilateral exchanges, aiming to alleviate ongoing trade and technology disputes.
Economic Security as a Priority
Before commencing his Asian tour, Bessent emphasized the strategic importance of economic negotiations with China, positing that “economic security is national security.” This sentiment underscores the inseparable link between sound economic relations and national interests for the United States.
As the discussions unfold, Bessent will accompany Trump to Beijing, with the upcoming summit seen as crucial for solidifying the trade truce and advancing unresolved agreements. The U.S. delegation will include prominent business leaders from various sectors, including Jensen Huang of Nvidia and Elon Musk of Tesla, highlighting the economic stakes involved.
(With information from AFP and EFE)