U.S. and China describe first day of Malaysia trade talks as ‘very constructive’

Officials from the U.S. and China said their first day of trade negotiations in Kuala Lumpur was “very constructive”, easing fears of a tariff-escalation and paving the way for a high-stakes meeting between Presidents Donald Trump and Xi Jinping. The talks, held on the sidelines of the Association of Southeast Asian Nations (ASEAN) summit, saw delegations tackling issues including rare-earth export controls and U.S. tariffs. Markets responded positively, with Asian equities lifting on renewed risk appetite and the promise of calmer trade relations ahead.