Xi Jinping Calls for Renewed U.S.-China Partnership as Trade Talks with Trump Begin

Gerik

Summary:

At a pivotal meeting in South Korea, Chinese President Xi Jinping struck a conciliatory tone with U.S. President Donald Trump, expressing a desire for renewed partnership despite ongoing trade tensions and geopolitical friction....

First In-Person Summit Since Trump’s Second Term Began

President Donald Trump and President Xi Jinping convened in Busan, South Korea, on October 30, marking their first face-to-face meeting since Trump began his second term. The leaders met at Gimhae Air Base for a brief photo-op ahead of private discussions aimed at easing the escalating trade conflict between the world’s two largest economies. Trump signaled early optimism by noting that “many things” had already been agreed upon, with further progress expected.

In a statement released by the Chinese foreign ministry, Xi stressed that despite occasional frictions, the U.S. and China should view each other as “partners and friends.” He employed maritime metaphors to describe the bilateral relationship, calling for efforts to keep the “giant ship” of U.S.-China relations sailing steadily forward. The message is crafted to shift the rhetorical framework of the relationship from confrontation toward constructive engagement. While Xi acknowledged policy differences as natural for two major economies, the emphasis on partnership is aimed at influencing the tone of the negotiations.

Regional and Diplomatic Subtext: A Strategic Visit to Korea

Xi’s state visit to South Korea his first in 11 years occurs alongside the APEC Economic Leaders’ Meeting in Gyeongju. The choice of venue, combined with the timing of the Trump-Xi summit, suggests strategic coordination. While officially centered on trade, the meeting also indirectly reinforces China’s regional influence, especially in light of earlier U.S. critiques over Beijing’s limited role in ceasefire negotiations in Thailand and Cambodia. By linking China’s peace-building role to economic diplomacy, Xi appears to be reinforcing a broader vision of responsible global leadership.

The talks take place amid significant bilateral tension. The U.S. has threatened further restrictions on software exports and continues to press China over tech issues, including the forced divestiture of TikTok’s parent company ByteDance. Tariffs, rare earth access, and fentanyl export control are also on the agenda. Trump’s recent public disclosures about expected deals indicate an intention to show progress in time-sensitive areas ahead of upcoming political milestones. Meanwhile, China’s decision to resume U.S. soybean imports this week the first in months suggests a reciprocal gesture and a potential turning point in trade dynamics.

Global Markets and Investor Reactions

Markets responded positively at the beginning of the week, driven by anticipation of the summit’s outcomes. Investors are watching closely for signs of policy de-escalation, particularly in tariff and technology-related sectors that have been heavily affected by the prolonged trade war. Any tangible agreement would represent more than just short-term relief it could signal a fundamental shift in the trajectory of the economic relationship.

Curtis Chin, chair at the Milken Institute and former U.S. ambassador to the Asian Development Bank, underscored that while the return to dialogue is a necessary step, implementation remains critical. Symbolic meetings may help stabilize markets and bilateral tone, but without enforcement mechanisms and follow-through, trust will remain fragile. His warning highlights a causal relationship: positive optics alone cannot repair a relationship weakened by tariffs, tech decoupling, and mutual distrust unless they lead to verifiable policy execution.

The Trump-Xi summit in Busan marks a potentially stabilizing moment in U.S.-China relations, with both sides acknowledging friction but expressing a desire to manage it constructively. Xi’s conciliatory remarks signal Beijing’s interest in preserving economic interdependence, while Trump’s openness to agreement suggests room for pragmatic cooperation. However, the long-term impact will hinge on concrete policy actions and credible follow-through. In an increasingly multipolar world, this meeting could become either a turning point for stability or a temporary pause before renewed rivalry.

Source: CNBC

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