Washington: U.S. Treasury Secretary Scott Bessent announced on Wednesday that President Donald Trump is prepared to meet Chinese President Xi Jinping in South Korea later this month, aiming to prevent a further escalation in trade conflicts between the world’s two largest economies. Speaking at a CNBC event, Bessent emphasized that Washington does not seek to decouple from China and highlighted the trust between the two leaders as a key factor in keeping tensions from spiraling.

The announcement follows a period of heightened friction, after China expanded its export controls on rare earths, essential for high-tech industries. In retaliation, President Trump threatened to impose triple-digit tariffs on Chinese goods, prompting financial market turbulence and straining U.S.-China relatio

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