Chinese President Xi Jinping has announced that China and the United States have reached a consensus on economic and trade issues following his long-awaited meeting with former US President Donald Trump in Busan, South Korea. The Thursday meeting marked the first face-to-face engagement between the two leaders since 2019, reigniting hopes for a potential thaw in the strained trade relations between the world’s two largest economies.
According to Chinese state news agency Xinhua, the two leaders held in-depth discussions on key trade and economic matters. President Xi emphasized the need for both countries to maintain “positive interactions on the regional and international stage” and urged their respective teams to “refine and finalise follow-up work as soon as possible”.
The talks come at a crucial moment as the US-China trade war, which has persisted for years, continues to impact global markets, supply chains, and commodity prices. The dispute, covering sectors from rare earth minerals and soybeans to port tariffs and technology, has created uncertainty in international trade and manufacturing.
While Xinhua’s report did not reveal the specific details of the agreements reached, Xi stressed that both nations should work toward “tangible results” that can stabilize the economies of China, the United States, and the broader global market.
The meeting in Busan underscores the growing recognition by both nations that cooperation rather than confrontation could yield mutual benefits. Analysts believe that any progress toward easing trade tensions could have ripple effects across global industries, potentially restoring investor confidence.
The coming weeks will be key as trade teams from Beijing and Washington translate the leaders’ consensus into concrete policy actions, marking what could be the first meaningful step toward a new phase in US-China economic relations.
