US and China Initiate Trade Talks in Seoul Ahead of Trump-Xi Summit

Trade negotiators from the United States and China, led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, have commenced talks in Seoul. These discussions aim to prepare for the upcoming summit between President Donald Trump and President Xi Jinping, scheduled for May 13-15 in Beijing. The agenda includes reviewing bilateral trade developments and addressing the ongoing war in Iran, which has triggered an oil crisis affecting global markets. The White House is pressuring China to help reopen the Strait of Hormuz and join US-led escort operations, having sanctioned Chinese refiners processing Iranian crude. Meanwhile, He Lifeng met with South Korean President Lee Jae Myung to discuss regional stability, including tensions on the Korean Peninsula and Seoul's efforts to restore ties with Beijing. This diplomatic engagement highlights South Korea's role as a mediator amidst intensifying US-China rivalry. The conflict in the Middle East has exposed vulnerabilities in energy-dependent economies like South Korea, which relies heavily on imports through the Strait of Hormuz. The outcome of these preliminary talks is expected to set the tone for the historic leaders' summit.