The Chinese and US delegations on Wednesday held "candid, in-depth and constructive exchanges" in South Korea on economic and trade issues of mutual concern, as well as on further expanding practical cooperation, according to officials.

Vice Premier He Lifeng led the Chinese side while US Treasury Secretary Scott Bessent headed the American delegation.

US trade officials said the talks ran about three hours and ended just before 4pm local time.

The Xinhua News Agency said both countries upheld the principle of mutual respect, peaceful coexistence and win-win cooperation during the talks.

The two sides are eager to maintain a truce struck last October in which the Trump administration suspended triple-digit tariffs on Chinese goods and Beijing backed away from placing heavy restrictions on global supplies of rare earths, vital in making items from electric cars to weapons.

China and the US are also expected to agree to forums to support mutual trade and investment, while Washington is eager to sell Boeing airplanes, American agriculture and energy.

Beijing, for its part, wants the US to ease curbs on exports of chipmaking equipment and advanced semiconductors.

The talks in South Korea came ahead of US President Donald Trump's visit to China. (Xinhua/Reuters)


Edited by Edmond Fong