world-economy

U.S., China Ramp Up Diplomatic Push Ahead of Trump-Xi Summit

U.S. Treasury Secretary Scott Bessent will meet Japanese Prime Minister Sanae Takaichi in Tokyo on Tuesday. He will then travel to Seoul for bilateral trade negotiations with Chinese officials. Vice Premier He Lifeng will lead a Chinese delegation to South Korea for talks Tuesday through Wednesday. The diplomatic activity precedes President Donald Trump's scheduled meeting with Chinese President Xi Jinping on Thursday and Friday. The summit takes place amid ongoing tensions in the Middle East, with Japan particularly vulnerable given its reliance on Middle Eastern sources for approximately 75 percent of its oil imports. Taiwan remains a sensitive issue in the negotiations, with the Trump administration confirming that arms sales to Taipei will be discussed. Japan's leadership has signaled support for Taiwan if militarily threatened, a position that drew sharp criticism from Beijing.