Treasury Secretary Scott Bessent said President Donald Trump still expects to speak with Chinese leader Xi Jinping in South Korea during APEC week.
Watch Bessent's remarks in the player above.
Resurgent trade tensions have threatened ongoing negotiations over tariffs between the U.S. and China.
Bessent made the comments at a press conference, Wednesday.
China last week expanded export controls on key rare earth minerals, and Trump then announced a 100% tariff on Chinese goods set to take effect on November 1.
Earlier, Bessent says the shutdown is costing the economy $15B per day.
Treasury Secretary Scott Bessent made the comment at the CNBC Invest in America Forum on Wednesday morning.
"The only thing slowing us down here is the shutdown," he said.