China, US to start trade talks in Malaysia on Friday

(Sharecast News) - Chinese Vice-Premier He Lefeng is to meet US officials for a new round of high-level trade talks in Malaysia this week, China's state news agency Xinhua reported on Thursday.

The talks will take place from October 24 to 27 amid an escalating trade war between the world's biggest economies over tariffs.

Earlier this month, China introduced strict new regulations on the rare earth industry, a move that prompted the US to threaten retaliatory tariffs with President Donald Trump suggesting 100% levies on Chinese imports if negotiations failed.

Trump and Chinese President Xi Jinping are also expected to meet at the upcoming Asia-Pacific Economic Cooperation summit in South Korea, the US leader warned that he might cancel the bilateral talks if trade discussions in Malaysia do not produce meaningful progress.

Reporting by Frank Prenesti for Sharecast.com