KUALA LUMPUR, MALAYSIA (AP) — U.S.-China trade friction It looked cool last Sunday upcoming meetings between President Donald Trump and Chinese leaders Xi Jinpingboth sides say an agreement is close The world’s two largest economies.
Any deal would provide relief to international markets, even if it did not address fundamental issues such as manufacturing imbalances or access to food. cutting edge computer chip.
Beijing recently restricted exports of rare earth elements That’s what advanced technology requires, and President Trump responded: threaten additional tariffs About Chinese products. Conflict may escalate Slowing global economic growth.
China’s top trade negotiator, Li Chengang, told reporters that the two countries had reached a “preliminary agreement,” and Trump’s Treasury secretary, Scott Bessent, said there was a “very successful framework.”
President Trump also expressed confidence that a deal was on the horizon, saying that China “wants a deal and we want a deal.” The Republican president is scheduled to meet with Xi on Thursday in South Korea, the final stop on his Asian tour. President Trump reiterated his plans to visit China in the future and hinted that Xi might come to Trump’s private club, Mar-a-Lago, in Washington or Florida.
Bessent told CBS’ “Face the Nation” that the threat of additional tariffs on China is “virtually off the table.”
Progress towards a potential agreement came during the annual summit. Association of Southeast Asian Nationsin Kuala Lumpur, President Trump is trying to improve his reputation as an international dealmaker.
However, his method of pursuing deals caused serious turmoil at home and abroad. Although his import taxes disrupt relations with trading partners, us government shutdown He is at odds with the Democratic Party.
President Trump attends ceasefire ceremony between Thailand and Cambodia
At the summit, Thailand and Cambodia signed an expanded ceasefire agreement in a ceremony attended by President Trump. His threats of economic pressure prompted the two countries to halt skirmishes along their disputed border earlier this year.
Thailand releases Cambodian prisoners and Cambodia begins withdrawing heavy artillery as part of the first phase of the agreement. Local observers will monitor the situation to ensure fighting does not resume.
“We did what many people said was impossible,” Trump said. Cambodian Prime Minister Hun Manet called it a “historic day” and Thai Prime Minister Anutin Charnvirakul said the deal would create “the foundation for lasting peace”.
The president signed economic frameworks with Cambodia, Thailand, and Malaysia, some of which were aimed at expanding trade in critical minerals. The United States wants to reduce its dependence on China, which has used export restrictions on key components in technology manufacturing as a bargaining chip in trade negotiations.
“It is critical that we work together as willing partners to ensure a smooth supply chain, a secure supply chain for the quality of life, for our people, and for our security,” said U.S. Trade Representative Jamieson Greer.
President Trump re-engages with key regions of the world
Trump attended the summit only once during his first term. US Secretary of Defense Pete Hegseth seemed unfamiliar. He met with ASEAN during the confirmation hearing in January.
This year’s event was an opportunity for President Trump to re-engage with countries with a combined $3.8 trillion economy and 680 million people.
“The United States is 100% with you and will continue to be your strong partner and friend for generations to come,” Trump said. He described their leaders as “great leaders” and said, “Everything they touch turns to gold.”
President Trump’s tariff threats are believed to have helped facilitate negotiations between Thailand and Cambodia. Some of the deadliest fighting in modern times between the two countries occurred over five days in July, leaving dozens dead and hundreds of thousands displaced.
At the time, the president threatened to put the trade deal on hold unless the fighting stopped. unstable ceasefire It’s been going on ever since.
Malaysian Prime Minister Anwar Ibrahim Praising the agreement between Thailand and Cambodia, he said at the summit that it “reminds us that reconciliation is not a concession, but a courageous act.”
President Trump’s visit to China focuses on tariffs
In Kuala Lumpur, President Trump met with Brazilian President Luiz Inacio Lula da Silva, who was also attending the summit. There has been friction between the two countries over Brazil’s prosecution of former President Jair Bolsonaro, an ally of President Trump. Bolsonaro was found guilty last month of trying to overturn his country’s election results.
During the meeting, President Trump said there was a possibility of lowering tariffs on Brazil. He enacted a call for leniency towards Bolsonaro.
“I think we should be able to get a good deal for both countries,” he said.
President Trump had shown goodwill toward Lula, but avoided Canadian Prime Minister Mark Carney. The president has been furious with Canada over TV ads protesting its trade policies, and on the way to the summit he announced on social media: increase tariffs on Canada Because of that.
One of the leaders absent from the summit was Indian Prime Minister Narendra Modi. He was close to Trump during his first term, but relations have become more strained recently. Trump caused irritation by boasting that he solved it. Recent conflicts between India and Pakistanand he has Increase in tariffs on India This is to buy Russian oil.
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Associated Press writers Josh Boak in Tokyo and Jintamas Saksonchai in Bangkok contributed to this report.
