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In a significant development in the ongoing trade talks between the world's two largest economies, the US and China have agreed to make full use of the economic and trade consultation mechanism between them, the Chinese embassy in the US said on Sunday. Both sides agreed to achieve this under the "strategic guidance of the two heads of state", wrote the embassy on microblogging site X (formerly Twitter).
<blockquote>Both sides agreed that, under the strategic guidance of the two heads of state, they will: 
make full use of the <a href="https://twitter.com/hashtag/China?src=hash&amp;ref_src=twsrc%5Etfw">#China</a>-<a href="https://twitter.com/hashtag/US?src=hash&amp;ref_src=twsrc%5Etfw">#US</a> economic and trade consultation mechanism 
maintain close communication on respective concerns in the economic and trade fields 
promote the healthy,… <a href="https://t.co/7VnnPBoJq8">https://t.co/7VnnPBoJq8</a> <a href="https://t.co/wrYkxZ9t8u">pic.twitter.com/wrYkxZ9t8u</a>
— Chinese Embassy in US (@ChineseEmbinUS) <a href="https://twitter.com/ChineseEmbinUS/status/1982425992871166285?ref_src=twsrc%5Etfw">October 26, 2025</a></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>The US and China will maintain close communication on respective concerns in the economic and trade fields, and promote the healthy, stable and sustainable development of economic and trade relations to benefit the two peoples and contribute to global prosperity, noted the Chinese embassy. 
<h2>US-China relations</h2>
The development comes amid growing concerns about whether China's export curbs on rare earth magnets and minerals will worsen a global shortage. The materials are crucial for a number of industries including electric vehicles. Both sides are reportedly focused on preventing any escalation in their trade relations. The world's two largest economies have slapped a series of sanctions and curbs on each other over the past few months, despite a resolution agreed upon in Geneva in May and then extended in August. 
Earlier on Sunday, US President Donald Trump arrived in Malaysia for the ASEAN summit. His visit is part of his five-day Asia tour that will end with a meeting with his Chinese counterpart, Xi Jinping, in Gyeongju, South Korea, on Thursday, October 30. Both leaders are set to sign off on the terms of the deal during their discussions on the sidelines of the Asia Pacific Economic Cooperation summit. 
Trump said he was optimistic about progress in the trade talks between both nations, saying: "I think we are going to have a deal with China."
Top officials from both sides reportedly discussed the framework of a potential trade deal for Trump and Xi to finalise that would halt sharper American tariffs and Chinese rare earths export controls and to resume American soybean sales to China. The US has confirmed that talks on the sidelines of the ASEAN Summit had eased the threat of Trump’s 100 per cent tariffs on Chinese imports starting November 1.
Trump's warning of imposing a 100 per cent tariff on Chinese goods, along with other trade curbs, are in response to China’s expanded export controls on rare-earth magnets and minerals. China and the US have rolled back most of their triple-digit tariffs on each other’s goods under a temporary trade agreement due to expire on November 10.
ALSO READ: <a href="https://www.zeebiz.com/world/news-us-seeks-indias-support-to-counter-china-s-rare-earth-power-play-381004">US seeks India's support to counter China’s rare earth power play?</a>

In a significant development in the ongoing trade talks between the world's two largest economies, the US and China have agreed to make full use of the economic and trade consultation mechanism between them, the Chinese embassy in the US said on Sunday. Both sides agreed to achieve this under the "strategic guidance of the two heads of state", wrote the embassy on microblogging site X (formerly Twitter).Both sides agreed that, under the strategic guidance of the two heads of state, they will:make full use of the #China-#US economic and trade consultation mechanismmaintain close communication on respective concerns in the economic and trade fieldspromote the healthy,… https://t.co/7VnnPBoJq8 pic.twitter.com/wrYkxZ9t8u— Chinese Embassy in US (@ChineseEmbinUS) October 26, 2025The US and China will maintain close communication on respective concerns in the economic and trade fields, and promote the healthy, stable and sustainable development of economic and trade relations to benefit the two peoples and contribute to global prosperity, noted the Chinese embassy. US-China relationsThe development comes amid growing concerns about whether China's export curbs on rare earth magnets and minerals will worsen a global shortage. The materials are crucial for a number of industries including electric vehicles. Both sides are reportedly focused on preventing any escalation in their trade relations. The world's two largest economies have slapped a series of sanctions and curbs on each other over the past few months, despite a resolution agreed upon in Geneva in May and then extended in August. Earlier on Sunday, US President Donald Trump arrived in Malaysia for the ASEAN summit. His visit is part of his five-day Asia tour that will end with a meeting with his Chinese counterpart, Xi Jinping, in Gyeongju, South Korea, on Thursday, October 30. Both leaders are set to sign off on the terms of the deal during their discussions on the sidelines of the Asia Pacific Economic Cooperation summit. Trump said he was optimistic about progress in the trade talks between both nations, saying: "I think we are going to have a deal with China."Top officials from both sides reportedly discussed the framework of a potential trade deal for Trump and Xi to finalise that would halt sharper American tariffs and Chinese rare earths export controls and to resume American soybean sales to China. The US has confirmed that talks on the sidelines of the ASEAN Summit had eased the threat of Trump’s 100 per cent tariffs on Chinese imports starting November 1.Trump's warning of imposing a 100 per cent tariff on Chinese goods, along with other trade curbs, are in response to China’s expanded export controls on rare-earth magnets and minerals. China and the US have rolled back most of their triple-digit tariffs on each other’s goods under a temporary trade agreement due to expire on November 10.ALSO READ: US seeks India's support to counter China’s rare earth power play?

The US and China have agreed to make full use of the economic and trade consultation mechanism between both sides, according to the Chinese embassy. 

US-China Trade Talks Update: Both sides agree to economic, trade consultation mechanism

In a significant development in the ongoing trade talks between the worlds two largest economies, the US and China have agreed to make full use of the economic and trade consultation mechanism between them, the Chinese embassy in the US said on Sunday. Both sides agreed to achieve this under the strategic guidance of the two heads of state, wrote the embassy on microblogging site X (formerly Twitter). Both sides agreed that, under the strategic guidance of the two heads of state, they will: make full use of the #China-#US economic and trade consultation mechanism maintain close communication on respective concerns in the economic and trade fields promote the healthy,… https://t.co/7VnnPBoJq8 pic.twitter.com/wrYkxZ9t8u — Chinese Embassy in US (@ChineseEmbinUS) October 26, 2025 The US and China will maintain close communication on respective concerns in the economic and trade fields, and promote the healthy, stable and sustainable development of economic and trade relations to benefit the two peoples and contribute to global prosperity, noted the Chinese embassy.  US-China relations The development comes amid growing concerns about whether Chinas export curbs on rare earth magnets and minerals will worsen a global shortage. The materials are crucial for a number of industries including electric vehicles. Both sides are reportedly focused on preventing any escalation in their trade relations. The worlds two largest economies have slapped a series of sanctions and curbs on each other over the past few months, despite a resolution agreed upon in Geneva in May and then extended in August.  Earlier on Sunday, US President Donald Trump arrived in Malaysia for the ASEAN summit. His visit is part of his five-day Asia tour that will end with a meeting with his Chinese counterpart, Xi Jinping, in Gyeongju, South Korea, on Thursday, October 30. Both leaders are set to sign off on the terms of the deal during their discussions on the sidelines of the Asia Pacific Economic Cooperation summit.  Trump said he was optimistic about progress in the trade talks between both nations, saying: I think we are going to have a deal with China. Top officials from both sides reportedly discussed the framework of a potential trade deal for Trump and Xi to finalise that would halt sharper American tariffs and Chinese rare earths export controls and to resume American soybean sales to China. The US has confirmed that talks on the sidelines of the ASEAN Summit had eased the threat of Trump’s 100 per cent tariffs on Chinese imports starting November 1. Trumps warning of imposing a 100 per cent tariff on Chinese goods, along with other trade curbs, are in response to China’s expanded export controls on rare-earth magnets and minerals. China and the US have rolled back most of their triple-digit tariffs on each other’s goods under a temporary trade agreement due to expire on November 10. ALSO READ: US seeks Indias support to counter China’s rare earth power play?

The US and China have agreed to make full use of the economic and trade consultation mechanism between both sides, according to the Chinese embassy. 