From G20 and APEC Summits to State Visits
"No Change in Position" on the Taiwan Issue
Next Fed Chair Could Be Announced Before Christmas
U.S. Treasury Secretary Scott Bessent stated on November 25 (local time) that "there could be up to four U.S.-China summits next year."
In an interview with CNBC that day, Secretary Bessent said, "If there are four summits between the leaders of the U.S. and China in a year, it would provide significant stability to the bilateral relationship."
He predicted that President Xi could attend the Group of 20 (G20) Summit held in the United States, and President Trump could participate in the Asia-Pacific Economic Cooperation (APEC) Summit hosted by China, suggesting that there could be at least four U.S.-China leader meetings throughout next year.
The previous day, President Trump posted on his social media that "President Xi invited me to visit Beijing in April next year, and I accepted," adding, "President Xi will also be my guest for a state visit to the United States next year." The Wall Street Journal reported that the U.S.-China leaders' call, which took place on November 24, was initiated by President Xi, who first reached out to President Trump.
Secretary Bessent explained, "President Xi will also come to the United States to attend the G20 Summit, which will be held in Doral, Florida," and "President Trump could attend the APEC Summit, which will be held in Shenzhen, China, in November."
The G20 and APEC summits are scheduled for December and November 2026, respectively, so the leaders of both countries could hold separate meetings not only during state visits but also on the sidelines of multilateral summits.
Secretary Bessent emphasized, "The two countries will always be competitors, and that is natural," but added, "The stability that comes from face-to-face meetings between the leaders of the two countries is good for the American people and for the global economy."
However, regarding the 'Taiwan issue,' he drew a clear line, stating, "The United States' position on Taiwan remains unchanged."
On the previous day, China's Xinhua News Agency reported that, in relation to the U.S.-China leaders' call, President Trump said, "The United States understands the importance of the Taiwan issue to China." However, President Trump did not mention the Taiwan issue when disclosing the contents of the call on social media.
Meanwhile, Secretary Bessent announced that interviews for candidates to select the next U.S. Federal Reserve (Fed) Chair would be held that day, adding, "The President may announce the next Chair before Christmas."
The current shortlist for the next Chair includes Kevin Hassett, Chairman of the White House National Economic Council (NEC); Kevin Warsh, former Fed Governor; Christopher Waller, Fed Governor; Michelle Bowman, Fed Governor; and Rick Rieder, Chief Investment Officer (CIO) of Fixed Income at BlackRock.
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