High-Stakes Trade Negotiations Unfold Ahead of Global Summit

Chinese Vice Premier He Lifeng arrived in South Korea for trade discussions with the U.S. delegation before a major summit. Talks with U.S. Treasury Secretary Scott Bessent were planned before meetings between U.S. and Chinese presidents. The discussions are taking place at Incheon Airport amid growing global economic tensions.

Chinese Vice Premier He Lifeng landed in South Korea on Tuesday to engage in high-stakes trade negotiations with a U.S. delegation, as world leaders prepare for a critical summit later this week.

He is accompanied by China's Vice Commerce Minister Li Chenggang, both set to hold talks with U.S. Treasury Secretary Scott Bessent on Wednesday. The discussions aim to set the tone before President Donald Trump and President Xi Jinping’s anticipated meeting in Beijing from Thursday to Friday.

South Korean Finance Minister Koo Yun-cheol confirmed that Bessent will first touch down in South Korea Wednesday morning to meet with He. Meanwhile, South Korean President Lee Jae Myung is expected to meet Bessent. Talks between Bessent and He will transpire at a designated reception room at Incheon Airport.