Treasury Secretary Bessent to Meet Chinese Vice Premier He Lifeng Amidst Trade Tensions

Washington D.C. – U.S. Treasury Secretary Scott Bessent is scheduled to hold discussions with Chinese Vice Premier He Lifeng this evening, with a subsequent in-person meeting planned in Malaysia next week. The high-level talks aim to address ongoing trade and economic issues between the two global powers.

The upcoming dialogue comes as U.S.-China economic relations remain strained, characterized by recent escalations in trade rhetoric and actions. Secretary Bessent, who assumed his role in January 2025, has been a vocal proponent of a firm stance against China's trade practices. Just days prior, Bessent publicly criticized a Chinese trade official, referring to him as "unhinged" amid disputes over rare earth export controls and port fees.

Vice Premier He Lifeng, a key economic advisor to President Xi Jinping, has been a central figure in China's economic policy and negotiations. He has previously engaged with U.S. officials, including former Treasury Secretary Janet Yellen, in efforts to stabilize and manage the complex economic relationship. The planned meeting in Malaysia suggests a continuation of these high-level engagements, despite the public disagreements.

The discussions are expected to cover a range of critical topics, including trade imbalances, tariffs, supply chain resilience, and broader macroeconomic policies. Secretary Bessent has advocated for pushing concessions from U.S. trading partners to restrict their economic relationships with China, aiming to isolate Beijing and gain leverage in potential trade talks. This approach underscores the strategic importance of the upcoming meetings.

The engagement between Bessent and He Lifeng is seen as an attempt to maintain open lines of communication and manage potential conflicts, even as both nations pursue their respective economic interests. The outcome of these talks will be closely watched by global markets and policymakers, as they could influence future trade policies and the trajectory of the U.S.-China economic relationship.