Chinese Vice Premier He Lifeng connected with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Maria Greer in a video call described as "frank, in-depth, and constructive." The leaders agreed to launch a fresh round of economic and trade consultations, potentially convening in Malaysia as early as next week.
Against a backdrop of heightened commercial strain, this dialogue stands out as a key stabilizer. Recent U.S. rhetoric threatened to impose 100 percent tariffs on all Chinese imports—a proposal later walked back as “not sustainable.” That episode underscored the fragility of global supply chains in the face of politicized decisions.
At the same time, the Chinese mainland’s enhanced export control framework for rare earths and critical minerals sparked debate. While some viewed the policy as a retaliatory measure, it does not constitute a ban: licenses continue to be granted for legitimate applications. The approach aligns with international norms and reflects a commitment to responsible trade.
In contrast, the repeated use of tariffs, sanctions, and export restrictions justified by national security concerns points to growing economic unilateralism—one that risks eroding the rules-based order it professes to uphold. As Beijing and Washington gear up for their next meeting, all eyes will be on whether this constructive momentum can yield a more resilient global economy.
Reference(s):
cgtn.com
