US, China begin trade talks in Malaysia

​​​​​​​By Saadet Gokce

ISTANBUL (AA) - The US and China Saturday kicked off their economic and trade talks in the Malaysian capital of Kuala Lumpur, according to the Chinese state-run Xinhua news agency.

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.