High-Stakes U.S.-China Negotiations Progress Toward Landmark Trump-Xi Summit

(SEOUL, Yonhap News Agency) – Critical trade talks between the United States and China entered a pivotal stage, with high-level delegations conducting thorough negotiations in Kuala Lumpur, Malaysia, on November 25. According to Reuters, discussions began in a "very constructive atmosphere," as described by a spokesperson for the U.S. Treasury Department. The dialogue is set to continue on November 26.

China’s Vice Premier He Lifeng, serving as the country's lead negotiator, attended the meeting alongside Li Chenggang, Vice Minister and China's International Trade Representative at the Ministry of Commerce. After the initial discussions concluded, Vice Premier He briefly acknowledged reporters with a smile and wave, though he did not provide any public statements, Reuters reported.

Notably absent from public view was U.S. Treasury Secretary Scott Bessent, the head of the American delegation. Secretary Bessent had previously explained that the Kuala Lumpur talks were intended to set the stage for the upcoming summit between U.S. President Donald Trump and Chinese President Xi Jinping.

Final Preparations for Historic Trump-Xi Summit

These negotiations represent a culmination of efforts ahead of the much-anticipated meeting between President Trump and President Xi at the Asia-Pacific Economic Cooperation (APEC) summit, scheduled on November 30 in Busan, South Korea. This Trump-Xi meeting is seen as a critical juncture in U.S.-China relations, with the opportunity to address deeply rooted trade disputes and ongoing tensions.

A key focus of the discussions is the looming expiration of the "tariff truce" between Washington and Beijing on December 10. Since both nations have been locked in contentious trade disagreements, the Kuala Lumpur talks are regarded as a potential turning point to reduce hostilities and chart a path toward economic cooperation.

Renewed Hopes for Easing U.S.-China Trade Tensions

Global expectations are mounting that the Kuala Lumpur negotiations could serve as a platform for easing the prolonged trade friction between the two economic superpowers. Under President Trump’s administration, U.S.-China relations reached a boiling point when steep tariffs on each other’s goods resulted in an economic standoff that disrupted global markets.

Despite the fragile calm achieved through a prior bilateral "tariff truce," tensions have reignited in recent months. Key factors include disagreements about port entry fees, China's restrictions on rare earth exports, and the U.S.’s unresolved threats to impose a severe "100% tariff" on Chinese goods. In addition, compliance with the "Phase 1" trade deal signed in 2019 remains a contentious issue, with frequent disputes over progress made under the agreement.

ASEAN Summit Convenes Amid Trade Negotiations

The timing of the Kuala Lumpur negotiations coincides with the ASEAN (Association of Southeast Asian Nations) Summit, which officially opened on November 26. This regional forum has brought influential leaders, including South Korean President Lee Jae-myung, Chinese Premier Li Qiang, Japanese Prime Minister Sanae Takaichi, and U.S. President Donald Trump, together in a setting that underscores the significance of Asia-Pacific diplomacy.

Global markets and investors are closely monitoring developments at both the ASEAN Summit and the bilateral U.S.-China talks. Signs of progress in trade negotiations could encourage renewed confidence and stability in the world’s two largest economies, potentially influencing the broader economic landscape as both nations seek mutually beneficial outcomes.

The coming days are crucial as the Trump-Xi summit approaches, offering a decisive moment to address the fractures in U.S.-China relations and stabilize the economic trajectory between these global powers.