China, U.S. begin economic, trade talks in Malaysia

The US and China Saturday kicked off their economic and trade talks in the Malaysian capital of Kuala Lumpur, according to the Chinese news agency, Xinhua.

Chinese delegation led by Vice Premier He Lifeng, and the US, headed by Treasury Secretary Scott Bessent, will “consult on important issues in China-US economic and trade relations” in accordance with the “consensus reached during multiple phone calls by the two nations’ leaders this year,” the Chinese Commerce Ministry said in a statement Thursday.

The meeting marks the fifth between the sides. The top negotiators previously held talks in Geneva, London, Stockholm and Madrid.

In August, the US and China agreed to a truce in tariffs until Nov. 10 -- the third time since Trump raised tariffs to 145% before reducing them. China had raised its tariffs on US goods up to 125%.

Malaysia is hosting the Association of Southeast Asian Nations (ASEAN) summit from Sunday to Tuesday.