U.S. President Donald Trump met with Chinese President Xi Jinping on Thursday during his final day of an Asia tour that included stops in Malaysia, Japan, and South, Korea, in an effort to resolve the ongoing trade disputes fueled by Trump’s tariffs on Chinese goods. The leaders of the world’s two largest economies held press briefings before their closed-door talks, with Xi Jinping acknowledging the longstanding nature of their relationship while expressing confidence in their ability to cooperate. Both nations are keen to avoid economic fallout from escalating trade tensions, which could harm their domestic economies.
Trump has imposed substantial tariffs on China since returning to the White House in January, and Beijing retaliated with limits on exports of rare earth elements. These trade measures have created a climate of uncertainty in global markets, with businesses across the world concerned about the potential for further escalation. Analysts warn that prolonged trade disputes could lead to a slowdown in global economic growth and negatively impact supply chains for goods and services that rely on Chinese manufacturing.
During the press briefing, Xi Jinping remarked that