The talks in the Malaysian capital were chaired by Chinese Deputy Prime Minister He Lap Phong and US Treasury Secretary Scott Bessent, taking place amid rising bilateral trade tensions and before the temporary tariff ceasefire agreement on November 10.
Speaking after the meeting, the head of the Chinese trade negotiation delegation, Mr. Li Cheng Qiang, said that the two sides had reached a "preliminary consensus" and would be submitted for internal approval.
Mr. Li Zheng Qiang described the US side as "hard-line" and the Chinese side as "persistent" in "low-level" discussions, while emphasizing that both Beijing and Washington believe in "a stable relationship that benefits both sides".
Meanwhile, US Trade Representative Jamieson Greer said the talks were constructive, focusing on extending the ceasefire, discussing rare earths and the final details of the framework that the two leaders could consider.
This is the 5th direct meeting between Mr. Ha Lap Phong and Mr. Bessent since the spring of this year, taking place after many weeks of instability when both sides did not want to make progress on key economic issues.
Beijing's expansion of rare earth export control to strengthen its position in the global supply chain of essential minerals for high-tech manufacturing, along with the threat of US President Donald Trump to impose additional retaliatory tariffs, has become two main bottlenecks.
Last month, Mr. Ha Lap Phong and Mr. Bessent met in Madrid (Spain), both of whom were said to have reached a TikTok agreement, while in Stockholm (Sweden) in July, the two sides agreed to extend the commercial war by 90 days, until November 10.
Observers said that positive results from meetings, including the most recent meeting, are considered a positive signal, signaling a cooling trend in bilateral relations. Thereby, the possibility of a direct dialogue between the heads of the two largest economies in the world is getting closer and closer.
US President Donald Trump and Chinese President Xi Jinping are scheduled to meet on October 30 on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit in Gyeongju (Korea).
The White House confirmed the meeting would take place before the official opening of the conference, but the Chinese side has yet to release any information.
