• U.S.-China trade tensions prompt substantial communications ahead of Trump-Xi meeting.
• President Trump plans to meet Xi in South Korea at the APEC summit despite recent tariff threats.
• U.S. Treasury Secretary Scott Bessent emphasizes de-escalation and ongoing negotiations.
• China's expanded rare earth export controls triggered a strong U.S. response but dialogue continues.
• Both leaders possess a "good relationship," fueling hopes for productive discussions.

U.S. President Donald Trump remains on schedule to meet Chinese leader Xi Jinping in South Korea later this month as both nations seek to de-escalate rising tensions over trade disputes. U.S. Treasury Secretary Scott Bessent emphasized that there has been "substantial communication" between the two sides recently, indicating a willingness to discuss and resolve issues that have emerged, particularly surrounding tariffs and export controls on rare earth elements, according to Channel News Asia and Al Jazeera.

Bessent noted that Trump's threat of a 100% tariff on Chinese goods, which was initially set to take effect on November 1, could be reconsidered if meaningful negotiations take place. Bessent stated, "The 100 percent tariff does not have to happen," highlighting the importance of effective dialogues in resolving differences, as reported by India Times and The Jakarta Post.

Despite escalating tensions stemming from China’s recent expansion of export controls on rare earth materials, Bessent affirmed ongoing preparations and discussions for the upcoming APEC summit in South Korea, stating, "I believe that meeting will still be on," according to India Times and Channel News Asia.

Bessent further described China's recent actions as provocative but expressed optimism regarding the path forward, stating that both nations are willing to engage in discussions. "We are now communicating at (a) very high level," which reinforces hopes for progress, as reported by India Times and Channel News Asia.