Chinese President Xi Jinping candidly addressed the nature of international trade relations during a meeting with U.S. President Donald Trump in Busan, South Korea. Xi stated that given the distinct national conditions of the two global economic powerhouses, it is entirely normal for disagreements and friction to arise. This acknowledgement came as both leaders met on the sidelines of the APEC summit, reaffirming their commitment to stable bilateral ties despite ongoing challenges.
Xi noted the consistent communication maintained between him and President Trump, which has contributed to the overall stability of China-U.S. relations. A significant point of discussion was the trade dispute, and Xi expressed confidence that their respective trade teams had achieved a foundational consensus on critical aspects. This suggests a positive trajectory towards resolving trade conflicts.
President Trump, in turn, characterized the meeting as highly promising, praising Xi’s negotiation skills while underscoring their robust relationship and mutual understanding. He even suggested the possibility of finalizing a trade deal swiftly. The leaders were expected to solidify a tentative trade agreement. This proposed deal reportedly includes provisions for China to pause its rare earths export controls and boost soybean purchases from the U.S., reciprocated by the U.S. potentially lowering tariffs on certain Chinese goods. Discussions also extended to sensitive areas like technology exports and trade compliance, hinting at a broader scope for reconciliation.