Trump–Xi Meeting Back on Track, Trade War Deescalating: Bessent

The Treasury secretary said the Chinese officials had miscalculated, signaling potential disarray in their ranks.

U.S. Secretary of the Treasury Scott Bessent speaks during a press conference following trade talks with Chinese Vice Premier He Lifeng at the foreign ministry in Madrid on Sept. 15, 2025. Thomas Coex/AFP via Getty Images

U.S. President Donald Trump signaled he will meet with Chinese Communist Party (CCP) leader Xi Jinping at the upcoming APEC summit in South Korea after Chinese authorities seemed to walk back last week’s decision to tighten critical minerals export controls, U.S. Treasury Secretary Scott Bessent said on Oct. 13.

“That’s the signal the president has given,” Bessent said on Fox Business program “Mornings With Maria,” referencing Trump’s earlier statement on Truth Social that there was “no reason” to meet with Xi after Beijing announced the export control.