New round of US-China trade talks to take place in Malaysia this week

During a video call, US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng agreed to a new round of trade talks between the two countries, German news outlet Deutsche Welle reported.

Delegations from Beijing (led by He) and Washington (led by Bessent and US Trade Representative Jamieson Greer) will meet in Malaysia during a three-day summit starting on October 24. 

According to a short statement released by the Chinese government, the teams will discuss key issues in the currently tumultuous US-China trade relations.

A US-China trade agreement on the horizon? 

Tensions between the two countries have reached new heights in recent weeks after China announced a new levy on rare-earth minerals exports.

US President Donald Trump labeled the move "very, very bad" and threatened to impose a 100 percent levy on Chinese exports to the United States, bringing the total tariff to a whopping 157 percent. This is by far the highest that the Trump administration has imposed on any country since the self-proclaimed Liberation Day in April 2025.  

The rare-earth mineral levy is only the latest chapter of a longstanding trade war between the superpowers. In recent months, the US and China were in the middle of a tit-for-tat maritime levy war triggered by the Biden-era USTR investigation under Section 301 of the US Trade Act of 1974.

The document found that China's dominance in the ship-building industry was the result of “unjustifiable, unreasonable, or discriminatory foreign government acts” and detrimental to the development of the American shipping industry.

This prompted the US to impose entry fees on vessels flying the Chinese flag, which the Asian Giant responded to by imposing the fees on American ships stopping at Chinese ports.

It's unclear whether this latest round of trade talks will result in a deal that ends the tariff turmoil between the US and China. The world watches expectantly for the results of this three-day meeting, as trade conditions between the two superpowers can significantly impact the future of global trade. 

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