WASHINGTON - US Treasury Secretary Scott Bessent said on Oct 15 that he was “optimistic” about trade talks with Beijing, following a new surge in tensions over rare earth exports.

“I’m optimistic. We are now communicating at (a) very high level,” Mr Bessent said at an event organized by CNBC. “There have been many outreaches.”

Both sides are holding working-level talks as well on the sidelines of the International Monetary Fund and World Bank’s annual meetings, Mr Bessent added.

He also noted that US President Donald Trump still planned to meet with his Chinese counterpart Xi Jinping in the near future.

The leaders of the world’s two biggest economies were expected to meet at the Asia-Pacific Economic Cooperation (APEC) summit starting later in October.

But Mr Trump last week

after China unveiled fresh controls on the export of rare earth technologies and items.

Mr Bessent maintained that “President Trump is a ‘go’ on that”, stressing to CNBC that both leaders have “an excellent relationship”.

On Oct 14, China said it was

in a trade war with the United States. AFP