October 27, 2025, 10:30 AM (Updated October 27, 2025) | Liu Youlong
US President Donald Trump. (Trump's Facebook)
Trump-Xi meeting releases positive news, US and China temporarily halt trade conflict
A turning point has emerged in US-China trade relations. US Treasury Secretary Scott Bessent announced on the 26th that he and Chinese Vice Premier He Lifeng had reached a "major framework agreement" in Kuala Lumpur, Malaysia, agreeing to temporarily suspend retaliatory trade measures. China will postpone its rare earth export controls for one year and resume purchasing US soybeans; the US, in turn, will temporarily refrain from imposing 100% tariffs on Chinese goods, thus temporarily easing the trade war.
Bessant pointed out that this agreement lays a good foundation for the upcoming Trump-Xi meeting in South Korea, where US President Trump and Chinese President Xi Jinping will further discuss bilateral trade cooperation, agricultural product purchases, and joint efforts to combat fentanyl smuggling. He stated that both sides have shown "substantial progress," and the current consensus is an important step towards a comprehensive agreement.
Chinese representative Li Chenggang also confirmed that the issues of mutual concern were "properly handled and preliminary consensus was reached" during the negotiations. With the high-level meeting between China and the United States imminent, the market generally expects more details of economic and trade cooperation to emerge.
Responding to media questions aboard Air Force One, Trump expressed "considerable optimism" about the outcome of the Trump-Xi meeting, emphasizing that the two sides would discuss a range of issues including agricultural trade, energy, and drug control, adding, "We have a very good chance of reaching a comprehensive agreement." These remarks have been interpreted by outsiders as a sign of a significant easing of the US-China trade war since 2018.
You must be logged in to post a comment.