Kuala Lumpur: Treasury Secretary Scott Bessent signaled optimism on Saturday following high-level trade discussions with his Chinese counterpart in Kuala Lumpur, suggesting that a framework has been laid for an upcoming summit between US President Donald Trump and Chinese President Xi Jinping in South Korea.
Emerging from the two-day talks, Bessent described the dialogue as “constructive” and “far-reaching,” covering a wide array of contentious topics ranging from trade and rare earth materials to fentanyl, TikTok, and broader US-China relations. “I think we have a very successful framework for the leaders to discuss on Thursday,” Bessent told reporters, underscoring that the discussions were intended to provide a blueprint for the forthcoming face-to-face meeting.
The timing of the summit comes amid renewed trade tensions, with Trump threatening steep tariffs of up to 130% on Chinese goods and imposing tighter export controls on critical software. Beijing has indicated it could respond in kind, heightening stakes for the bilateral negotiations. Bessent suggested that a potential extension of the current trade truce appears likely, though he emphasized that the ultimate decision rests with President Trump.
Agricultural purchases, a long-standing point of contention between the two countries, also featured prominently in the discussions, with Bessent describing them as “significant.” Despite intermittent tension between the delegations, he noted a climate of mutual respect, particularly in his interactions with Chinese Vice Premier He Lifeng, stating, “This was the fifth time that Vice Premier He and I have met and this time, we were determined to provide a framework for a successful leaders’ meeting in Korea.”
While Washington focuses on trade diplomacy in East Asia, attention has also turned to Southeast Asia, where a peace deal between Thailand and Cambodia, heralded by Trump, is drawing cautious scrutiny. Political experts in Bangkok have warned that despite the fanfare, a durable and just settlement remains elusive.
“President Trump wanted to get credit for peace, but the agreement signed on Sunday is far from a final peace treaty,” said Thitinan Pongsudhirak, professor of political science at Chulalongkorn University. He highlighted that Trump’s approach appeared to conflate trade leverage with conflict resolution, expecting that economic incentives alone could produce a sustainable peace.
Thitinan acknowledged that the deal represents a step in the right direction but cautioned that the path to enduring peace is complex. “There’s a long road ahead for some kind of lasting peace deal, peace agreement, let alone a formal treaty,” he said. He emphasized that true resolution will require not just agreements on paper, but a shared sense of justice and fairness on the ground.
As US diplomacy unfolds on multiple fronts, both the Trump-Xi summit and the Thai-Cambodia agreement underscore the intricate balance between geopolitical maneuvering and long-term stability. Analysts note that while high-profile deals generate headlines, the underlying challenges in trade and regional peace may persist long after leaders leave the negotiating table.