Trump tariffs live updates: US eyes China export curbs as Beijing confirms trade meeting with Washington
China's Vice Premier He Lifeng confirmed on Thursday that he will meet with Treasury Secretary Scott Bessent in Malaysia on Friday.
Bessent and He are tasked with negotiating the ongoing tariffs imposed by their countries against one another, it will also set the stage for the expected talks later this month between China's leader Xi Jinping and President Trump. However, reports claim that Washington and Beijing are trying to salvage the highly anticipated summit between Trump and Xi.
The US is considering curbs on software-related exports to China, Reuters reported Wednesday, adding another layer of uncertainty to trade negotiations between the countries.
The move could make good on Trump's vague threat to impose export curbs on "any and all critical software," in addition to additional 100% tariffs, from Nov. 1, after China moved restrict exports of rare earth minerals.
The US and China have seen their fragile trade relationship wobble further in recent weeks, with Trump confirming last week that the countries are in a trade war. The countries are set to hold talks later this week before Trump and Xi meet.
Trump predicted on Tuesday that an upcoming meeting between the US and China's leader Xi Jinping would "yield a good deal" on trade — even as he mused about whether such a meeting will actually happen.
"I have a good relationship with President Xi, I expect to be able to make a good deal with him," Trump said.
Trump has floated a list of demands for China talks, citing rare earths, fentanyl, and soybeans as his top issues to address with Beijing.
The administration is also seeking potential cudgels. In a move that analysts said was aimed squarely at China, Trump and Australian Prime Minister Anthony Albanese on Monday signed a deal that the White House said would help supply the US with the critical minerals.
