KUALA LUMPUR – High-level trade negotiators from the United States and China concluded a positive round of discussions in Kuala Lumpur on Saturday, aimed at de-escalating tensions over the “Trump tariffs” ahead of a key presidential meeting.

The talks marked the fifth in-person meeting between U.S. Treasury Secretary Scott Bessent and Chinese Vice-Premier He Lifeng. According to sources, the closed-door sessions focused on “issues crucial to economic and trade relations,” including high tariffs, agricultural trade, and technology controls.

This dialogue is seen as a critical stepping stone for a scheduled October 30 summit between Presidents Donald Trump and Xi Jinping in Washington—their first face-to-face engagement since Trump’s return to office.

The optimistic rhetoric from the talks has already provided a boost to global markets. Reports of progress saw stock indices and major cryptocurrencies rebound as traders anticipate a potential stabilization in trade relations, which have been strained by retaliatory sanctions and tariffs reportedly as high as 157%.