President Donald Trump hinted Tuesday that a trip to China could be imminent, raising the possibility of a high-stakes meeting with Chinese President Xi Jinping as the US president announced terms of agreements with two more key trading partners. Speaking at the White House where he hosted Philippine President Ferdinand Marcos Jr. Trump said a China trip might be “not too distant”, The Associated Press reported.
Despite the long-drawn US-China trade dispute spanning years, Trump’s latest remarks suggest a thaw in any potential escalation of trade tensions between the world’s two most powerful economies. “We’re getting along with China very well. We have a very good relationship,” the US president reportedly said, while also noting that Beijing has resumed shipments of record amounts of rare earth magnets, which are critical for smartphones, EVs, and other high-tech products.
A Xi-Trump Summit in the Making?
Experts say a Trump-Xi meeting could bring some much-needed stability to the complex US-China relationship. “As soon as the leadership in Beijing is satisfied that Trump will be on his best behaviour and will accept terms for a deal that they think are favourable, they will give a green light to the visit,” Danny Russel, a fellow at the Asia Society Policy Institute, told the US-based news agency.
Sun Yun of the Stimson Center told the publication that a summit could be “in the making,” but a deal on trade must come first.
Suggesting that the timing is still fluid, She further indicated, “potentially November,” depending on progress in US-China trade negotiations.
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Tariff War Cools Off For Now
Trump’s tariff-heavy campaign previously sparked a fierce trade war, which saw China hitting back with its own retaliatory tariffs up to 125% after the US imposed up to 145%. However, both sides have since cooled off following two rounds of high-level talks in Geneva and London.
Treasury Secretary Scott Bessent confirmed further progress Tuesday, saying he’ll meet Chinese officials in Stockholm next week, per the AP. “I think trade is in a very good place with China,” he told Fox Business, adding the that Washington hopes Beijing “concentrates on building a consumer economy.”
Beijing’s Recent Moves
On Tuesday, China abruptly dropped an antitrust investigation into DuPont’s operations. The chemical giant said it was “pleased” by the move. Meanwhile, China has resumed approving exports of rare earth elements, while the US eased restrictions on certain tech exports in return.
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