Washington: Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent are set to engage in a new series of economic discussions next week, following an agreement reached during a video call held on Saturday. Bessent announced via the US social media platform, X, that the discussions, which have been described as "frank and detailed" regarding trade between the two nations, will continue in person.

According to Anadolu Agency, this development comes as both Washington and Beijing aim to hold the new round of economic and trade consultations "as soon as possible," as stated by the Chinese government. The statement highlights that the discussions have involved "candid, in-depth, and constructive exchanges" on implementing consensus reached by the heads of state during their phone talks earlier this year, alongside addressing key issues in bilateral economic and trade relations.

The call also included participation from US Trade Representative Jamieson Greer. This dialogue takes place against a backdrop of increasing tensions, as US-China trade relations experienced a turbulent period. US President Donald Trump recently threatened to impose an additional 100% tariff on Chinese imports in retaliation to China's expanded rare earth export restrictions, which now include military applications for the first time.

Although President Trump initially threatened a significant tariff hike, he later suggested that such measures might not be necessary. In a Fox Business interview, Trump acknowledged the unsustainable nature of the proposed tariffs, yet noted that they were a reaction to China's actions. Despite the threats, Trump expressed optimism, stating, "I think we're going to do fine with China."