{"id":253425,"date":"2025-10-26T21:56:12","date_gmt":"2025-10-26T21:56:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/253425\/"},"modified":"2025-10-26T21:56:12","modified_gmt":"2025-10-26T21:56:12","slug":"us-and-china-say-a-trade-deal-is-drawing-closer-as-trump-and-xi-plan-to-meet","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/253425\/","title":{"rendered":"US and China say a trade deal is drawing closer as Trump and Xi plan to meet"},"content":{"rendered":"

KUALA LUMPUR, Malaysia (AP) \u2014 A trade deal<\/a> between the United States and China is drawing closer, officials from the world\u2019s two largest economies<\/a> said Sunday as they reached an initial consensus for President Donald Trump<\/a> and Chinese leader Xi Jinping<\/a> to aim to finalize during their high-stakes meeting.<\/a><\/p>\n

Any agreement would be a relief to international markets even if it does not address underlying issues involving manufacturing imbalances and access to state-of-the-art computer chips<\/a>.<\/p>\n

Beijing recently limited exports of rare earth elements<\/a> that are needed for advanced technologies, and Trump responded by threatening additional tariffs<\/a> on Chinese products. The prospect of a widening conflict risked weakening economic growth worldwide<\/a>.<\/p>\n

China\u2019s top trade negotiator, Li Chenggang, told reporters the two sides had reached a \u201cpreliminary consensus,\u201d while Trump\u2019s treasury secretary, Scott Bessent, said there was \u201ca very successful framework.\u201d<\/p>\n

Trump also expressed confidence that an agreement was at hand, saying the Chinese \u201cwant to make a deal and we want to make a deal.\u201d The Republican president is set to meet with Xi on Thursday in South Korea, the final stop of his trip through Asia. <\/p>\n

Bessent told CBS\u2019 \u201cFace the Nation\u201d that the threat of additional higher tariffs on China was \u201ceffectively off the table.\u201d In interviews on several American news shows, he said discussions with China yielded initial agreements to stop the precursor chemicals for fentanyl from coming into the U.S., and that Beijing would make \u201csubstantial\u201d purchases of soybean and other agricultural products while putting off export controls on rare earths.<\/p>\n

When asked how close a deal was, Trump\u2019s trade representative, Jamieson Greer, said on \u201cFox News Sunday\u201d that \u201cit\u2019s really going to depend\u201d on the two presidents.<\/p>\n

Meanwhile, Trump reiterated that he plans to visit China in the future and suggested that Xi could come to Washington or Mar-a-Lago, Trump\u2019s private club in Florida.<\/p>\n

The progress toward a potential agreement came during the annual summit of the Association of Southeast Asian Nations<\/a>, in Kuala Lumpur, with Trump seeking to burnish his reputation as an international dealmaker. <\/p>\n

Yet his way of pursuing deals has meant serious disruptions at home and abroad. His import taxes have scrambled relationships with trading partners while a U.S. government shutdown<\/a> has him feuding with Democrats.<\/p>\n

Trump attends ceasefire ceremony between Thailand and Cambodia<\/p>\n

At the summit, Thailand and Cambodia signed an expanded ceasefire agreement during a ceremony attended by Trump. His threats of economic pressure prodded the two nations to halt skirmishes along their disputed border earlier this year. <\/p>\n

Thailand will release Cambodian prisoners and Cambodia will begin withdrawing heavy artillery as part of the first phase of the deal. Regional observers will monitor the situation to ensure fighting doesn\u2019t restart.<\/p>\n

\u201cWe did something that a lot of people said couldn\u2019t be done,\u201d Trump said. Cambodian Prime Minister Hun Manet called it a \u201chistoric day,\u201d and Thai Prime Minister Anutin Charnvirakul said the agreement creates \u201cthe building blocks for a lasting peace.\u201d<\/p>\n

The president signed economic frameworks with Cambodia, Thailand and Malaysia, some of them aimed at increasing trade involving critical minerals. The United States wants to rely less on China, which has used limits on exports of key components in technology manufacturing as a bargaining chip in trade talks. <\/p>\n

\u201cIt\u2019s very important that we cooperate as willing partners with each other to ensure that we can have smooth supply chains, secure supply chains, for the quality of life, for our people and security,\u201d Greer said.<\/p>\n

Trump reengages with a key region of the world<\/p>\n

Trump attended this summit only once during his first term, and U.S. Defense Secretary Pete Hegseth seemed unfamiliar<\/a> with ASEAN during his confirmation hearing in January. <\/p>\n

This year\u2019s event was a chance for Trump to reengage with nations that have a combined $3.8 trillion economy and 680 million people. <\/p>\n

\u201cThe United States is with you 100%, and we intend to be a strong partner and friend for many generations to come,\u201d Trump said. He described his counterparts as \u201cspectacular leaders\u201d and said that \u201ceverything you touch turns to gold.\u201d<\/p>\n

Trump\u2019s tariff threats were credited with helping spur negotiations between Thailand and Cambodia. Some of the worst modern fighting between the two countries took place over five days in July, killing dozens and displacing hundreds of thousands of people.<\/p>\n

The president threatened, at the time, to withhold trade agreements unless the fighting stopped. A shaky truce<\/a> has persisted since then.<\/p>\n

Malaysian Prime Minister Anwar Ibrahim<\/a> praised the agreement between Thailand and Cambodia, saying at the summit that \u201cit reminds us that reconciliation is not concession, but an act of courage.\u201d<\/p>\n

Tariffs are in focus on Trump\u2019s trip<\/p>\n

Trump in Kuala Lumpur met Brazilian President Luiz In\u00e1cio Lula da Silva, who was also attending the summit. There has been friction between them over Brazil\u2019s prosecution of Jair Bolsonaro, the country\u2019s former president and a close Trump ally. Bolsonaro was convicted last month of attempting to overturn election results in his country.<\/p>\n

During their meeting, Trump said he could reduce tariffs on Brazil that he enacted in a push for leniency for Bolsonaro.<\/a><\/p>\n

\u201cI think we should be able to make some good deals for both countries,\u201d he said. <\/p>\n

While Trump was warming to Lula, he avoided Canadian Prime Minister Mark Carney. The president is angry with Canada because of a television advertisement protesting his trade policies, and on his way to the summit announced on social media he would raise tariffs on Canada<\/a> because of it.<\/p>\n

One leader absent from the summit was Indian Prime Minister Narendra Modi. Although he was close with Trump during Trump\u2019s first term, the relationship has been more tense lately. Trump caused irritation by boasting that he settled a recent conflict between India and Pakistan<\/a>, and he has increased tariffs on India<\/a> for its purchase of Russian oil.<\/p>\n

___<\/p>\n

Associated Press writers Josh Boak in Tokyo and Jintamas Saksornchai in Bangkok contributed to this report.<\/p>\n","protected":false},"excerpt":{"rendered":"KUALA LUMPUR, Malaysia (AP) \u2014 A trade deal between the United States and China is drawing closer, officials…\n","protected":false},"author":2,"featured_media":253426,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[2342,23,34189,3995,1204,28,29529,137750,144,3327,12,793,3138,137751,7590,3139,2561,34381,19424,9580,3317,5,3,3043,1572,111,4666,8879,2024,10980,21,792,19,22,20,25,24,800,965,6132],"class_list":["post-253425","post","type-post","status-publish","format-standard","has-post-thumbnail","category-united-states","tag-agriculture","tag-america","tag-anwar-ibrahim","tag-asia","tag-asia-pacific","tag-business","tag-cambodia","tag-cambodia-government","tag-china","tag-china-government","tag-donald-trump","tag-general-news","tag-government-and-politics","tag-hun-manet","tag-international-agreements","tag-international-trade","tag-jair-bolsonaro","tag-jamieson-greer","tag-luiz-incio-lula-da-silva","tag-mark-carney","tag-metals-and-mining","tag-narendra-modi","tag-news","tag-opioids","tag-pete-hegseth","tag-politics","tag-scott-bessent","tag-tariffs-and-global-trade","tag-thailand","tag-thailand-government","tag-united-states","tag-united-states-government","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-us","tag-usa","tag-washington-news","tag-world-news","tag-xi-jinping"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/253425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=253425"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/253425\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/253426"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=253425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=253425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=253425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}