Plans for United States President Donald Trump to meet his Chinese counterpart Xi Jinping in South Korea in late October remain intact, despite resurgent trade tensions between the two countries, US Treasury Secretary Scott Bessent says.

Speaking to Fox Business Network on Monday, Bessent said the US and China had “substantially de-escalated” after a series of tit-for-tat trade moves that threatened to strain relations and trigger a new trade war between Washington and Beijing.

The comments came after Trump, angered by China’s October 9 decision to expand export controls on key rare earth minerals, announced an additional 100 percent tariff on Chinese goods set to take effect on November 1.

But there have since been “substantial communications” between the two sides, with addition

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