US President Donald Trump is likely to meet with Chinese leader Xi Jinping in South Korea as both sides work to reduce trade tensions and disputes, US Treasury Secretary Scott Bessent said on Monday.

The recent escalation of US-China trade tensions started on Thursday when China significantly increased its export restrictions on rare earths, prompting a swift response from Trump on Friday.

"We have substantially de-escalated," Bessent said in an interview with Fox Business Network.

“President Trump said that the tariffs would not go into effect until November 1. He will be meeting with Party Chair Xi in Korea. I believe that meeting will still be on,” he added.

A number of staff-level meetings will be conducted this week on the sidelines of the World Bank and International Monetary F

See Full Page