Trump–Xi Meeting Back on Track, Trade War De-escalating: Bessent

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

U.S. Treasury Secretary Scott Bessent speaks during a news 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 that 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 an Oct. 9 announcement that China would 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.