US and Chinese delegations are set to meet in Malaysia from October 24 to October 27 to advance trade talks as trade tensions heightened yet again after China tightened its grip on rare earth exports.

The meet is scheduled to take place just a week before an additional 100% tariff on China comes into effect on November 1, in retaliation to China's restrictions on the export of rare earths.

It also takes place ahead of a "pretty long meeting" between US President Donald Trump and Chinese President Xi Jinping in South Korea.

The two sides will build on "important consensus" that Trump and Xi had reached regarding economic and trade ties over a phone call in September this year, state media Xinhua reported citing a spokesperson from the Ministry of Commerce on Thursday (October 23).

The C

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