Bessent cites trade progress after meeting China’s He Lifeng in Davos
US Treasury chief says rare earths are flowing and China is buying soybeans as talks move towards an April Trump-Xi meeting
US Treasury Secretary Scott Bessent said on Tuesday that he met with Chinese Vice-Premier He Lifeng a day earlier on the sidelines of the World Economic Forum in Davos, Switzerland, in advance of US President Donald Trump’s much-anticipated speech to the global body on Wednesday.
Bessent’s account of the sit-down between the main interlocutors over the past tumultuous year between Beijing and Washington suggests the pieces are in place to go ahead with a summit in Beijing between Trump and Chinese President Xi Jinping in April.
“I had a meeting with my Chinese counterpart here in Davos last night,” Bessent said on Fox Business during an interview on the main stage of the forum in the Swiss Alps. “They’ve done everything that they said they’re going to do.”
FULL EVENT: Chinese Vice-Premier He Lifeng delivers address at Davos
The US farm vote is a key ingredient in Trump’s all-out bid to avoid either house of Congress from turning over to the opposition Democrats, which would allow them to block legislation, investigate his administration and otherwise slow down his whirlwind 2025 momentum.