Kuala Lumpur: Trade negotiations between the United States and China are advancing toward a potential agreement that could be reviewed by President Donald Trump and President Xi Jinping later this week, according to U.S. Trade Representative Jamieson Greer.
Speaking in Kuala Lumpur, Greer noted that the talks, which began on Saturday, covered a wide range of issues, including the possible extension of a truce on trade measures. When asked about rare earths, Greer confirmed they were among the broad topics discussed.
Trump and Xi are scheduled to meet on Thursday in South Korea, concluding Trump’s five-day visit through Malaysia, Japan, and South Korea. Trump arrived in Kuala Lumpur on Sunday morning to participate in the ASEAN summit and observe the signing of a ceasefire agreement between Thailand and Cambodia.
The ongoing negotiations come amid heightened tensions between the two nations, particularly concerning China's export controls on rare earth materials. The U.S. has expressed concerns over these controls, which have implications for critical industries. In response, President Trump has threatened to impose 100% tariffs on Chinese goods, a move that has added urgency to the current discussions.
As the leaders prepare for their upcoming meeting, both sides are hopeful that a mutually beneficial agreement can be reached, potentially easing trade tensions and fostering a more stable economic relationship between the world's two largest economies.