Top US and Chinese economic officials concluded the first day of talks aiming to prevent a sharp escalation in their trade confrontation. Discussions covered tariff threats, technology controls and stalled commodity purchases, with both sides describing the tone as constructive. The meetings are intended to prepare a leaders’-level review at a regional summit the following week. Markets are watching whether any framework emerges to stabilise supply chains and reduce uncertainty around export restrictions, while trade-sensitive sectors gauge the risk of renewed barriers into the holiday quarter.