US and Chinese delegations will meet in Seoul, South Korea, on May 12-13 for a new round of economic and trade talks immediately ahead of President Donald Trump's May 14-15 summit with Xi Jinping in Beijing, China's Ministry of Commerce announced. The Chinese delegation will be led by Vice Premier He Lifeng, who oversees economic relations.
US Treasury Secretary Scott Bessent said on social media that he will travel first to Tokyo on May 12 to meet Japanese Prime Minister Sanae Takaichi and Finance Minister Satsuki Katayama, and then to Seoul on May 13 to meet He Lifeng before joining Trump in Beijing for the leaders' summit. "Economic security is national security," Bessent wrote, framing the talks within Trump's "America First Economic Agenda."
The negotiations cover a sprawling set of disputes that have intensified during Trump's second term: Washington's tariff hikes and technology restrictions on one side, and Beijing's tightening grip on global rare earth elements supply on the other. The two sides previously met in Geneva, London, Stockholm, Madrid and Kuala Lumpur last year, and in Paris this March; the Seoul round will be the seventh.
Trump and Xi reached a tentative framework after meeting in Busan, South Korea, on October 30, 2025. The deal suspended a 24% reciprocal tariff between the two countries for one year starting November 10, and in exchange for Chinese commitments to control fentanyl precursor exports, Washington cut a separate 20% additional tariff on Chinese goods to 10%. Beijing also agreed to defer the implementation of its October 9 rare earth export controls by one year.
The Seoul talks will also address the future of US Section 301 measures targeting China's maritime, logistics and shipbuilding industries, including per-ton port fees on Chinese vessels using US ports and Beijing's mirror retaliation, both of which are currently subject to one-year deferral agreements. Trump's Beijing visit had originally been scheduled for March 31-April 2 but was postponed because the President needed to remain in Washington to manage the Iran war. The outcome in Seoul will set important signals for global supply chains.
Key Takeaways:
1. The seventh round of US-China economic talks will take place in Seoul on May 12-13, 2026.
2. The Chinese delegation is led by Vice Premier He Lifeng; the US side by Treasury Secretary Scott Bessent.
3. The Seoul talks precede Trump's May 14-15 Beijing visit and summit with Xi Jinping.
4. Agenda items include tariff suspension, fentanyl precursor controls, and rare earth export rules.
5. Trump's Beijing trip was postponed from March 31-April 2 to May 14-15 due to the Iran war.
[3626832]
