Trump on track to meet Xi in South Korea, Bessent says

US President Donald Trump remains on track to meet Chinese leader Xi Jinping in South Korea in late October as the two sides try to de-escalate tensions over tariff threats and export controls, US Treasury Secretary Scott Bessent said on Monday. The latest rupture followed China's announcement on Thursday that it would dramatically expand its rare earths export controls. That drew a sharp countermeasure from Trump on Friday that sent markets and relations between the world's two largest economies into a spiral. Bessent said there were substantial communications between the two sides over the weekend and more meetings were expected. "We have substantially de-escalated," Bessent said in an interview with Fox Business Network. "President Trump said that the tariffs would...