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US open to China’s proposed “bigger deal” on trade ahead of Xi visit
Treasury Secretary Scott Bessent said the US is willing to either continue the Busan trade arrangement or consider the broader China proposal, with talks coming just before Xi Jinping’s state visit.
The South China Morning Post reports that US Treasury Secretary Scott Bessent said Washington is open to signing onto China’s proposal for a broader “bigger deal” on trade or extending last year’s Busan trade agreement.
Bessent made the comments on Wednesday after an unscheduled meeting with Chinese Vice-Premier He Lifeng at the World Bank headquarters, following related engagement earlier on Sunday at JPMorgan’s offices in New York.
The remarks were made hours before Chinese President Xi Jinping was due to arrive for a state visit, with Bessent saying the idea was raised by Chinese counterparts on Sunday and that the US is comfortable with either continuing the Busan arrangement or examining the larger framework.