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International Business Times
International Business Times
Business

US Treasury Chief To Speak With China Counterpart As Tensions Flare

US Treasury Secretary Scott Bessent's call with Chinese Vice Premier He Lifeng would come ahead of expected talks between both countries' leaders in South Korea (Credit: AFP)

US Treasury Secretary Scott Bessent is set to speak Friday with Chinese Vice Premier He Lifeng, an official from President Donald Trump's administration told AFP -- as Washington works to rally allies to respond to Beijing's rare earth curbs.

The high-level economic talks come as trade tensions flare between the world's two biggest economies following Beijing's announcement of tighter export controls on the critical rare earths industry.

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