On the morning of October 30, Chinese President Xi Jinping met with U.S. President Donald Trump in Busan, the Republic of Korea (ROK). The two leaders held in-depth discussions on the strategic and long-term dimensions of China-U.S. relations, as well as global governance.

Xi met with Trump shortly after arriving in Busan to attend the 32nd APEC Economic Leaders' Meeting in nearby Gyeongju and to begin a state visit to the ROK.

This was the first face-to-face meeting between the Chinese and U.S. presidents since Trump began his second term in January. Against the backdrop of growing differences between the two countries in technology, security, ideology and more, many political analysts considered the meeting an important step toward enhancing strategic mutual trust between Beijing and Washington.

Cooperation benefits both 

Since President Trump's reelection, the two leaders have spoken on the phone three times, exchanged letters on several occasions and maintained close communication. Under joint guidance, China-U.S. relations have remained stable on the whole, Xi noted.

In recent years, China-U.S. relations have faced mounting tensions, with the U.S. exerting pressure on China across a wide range of fields. Yet, despite these frictions, the overall relationship has remained stable. The two sides have maintained communication and reached basic consensus in many areas, with bilateral ties continuing to be mainly characterized by cooperation.

This is largely due to the crucial role of head-of-state diplomacy. As Xi emphasized, "Given our different national conditions, the two sides do not always see eye to eye with each other, and it is normal for the two leading economies of the world to have frictions now and then."

"You and I are at the helm of China-U.S. relations," Xi said. "In the face of winds, waves and challenges, we should stay the right course, navigate through the complex landscape, and ensure the steady sailing forward of the giant ship of China-U.S. relations."

During their talks, Xi noted that the two countries' economic and trade teams had recently held a new round of consultations in Kuala Lumpur, Malaysia, where they reached a basic consensus on addressing their respective major concerns. This, Xi said, created the necessary conditions for their meeting.

His message was clear: Mutual goodwill and sincerity are essential for building understanding and deepening cooperation. The progress made by the two countries' trade teams in Malaysia helped pave the way for this high-level dialogue.

History has shown that China-U.S. cooperation benefits both countries. From Trump's policies and statements, it is clear that "interest" and "advantage" are central to his political doctrine. Yet pursuing U.S. interests should not come at the expense of others. Resorting to tariffs, protectionism and unilateral measures ultimately harms the U.S. itself.

For example, U.S. soybean sales have plummeted in recent years, causing heavy losses for American farmers—a direct consequence of the Trump administration's tariff policies.

In an era of globalization, no country can solve all problems on its own. On this point, the U.S. Government must come to a clearer understanding.

Promoting global peace and development 

Xi emphasized that China's development and revitalization go hand in hand with President Trump's vision of "Make America Great Again." The two countries are fully capable of helping each other succeed and prosper together.

This idea of shared prosperity represents the right method for the two countries to coexist—one built on mutual respect, equality, cooperation and win-win outcomes. In today's deeply interconnected world, humanity has become a community with a shared future, where the interests of nations are intertwined and interdependent. Every country has the right to development, but that pursuit must take into account the broader interests of the global community, rather than come at the expense of others.

Over the 46 years since the establishment of diplomatic relations, China-U.S. cooperation has yielded fruitful results, bringing tangible benefits to both peoples. Even in times of heightened tension, new forms of exchange and collaboration have continued to emerge, such as the China-U.S. Agriculture Roundtable, the Yangtze–Mississippi River Regional Dialogue, the China-U.S. Bay-to-Bay Dialogue and the China-California Business Forum. Productive cooperation between the two countries also continues in areas such as urban governance and climate change.

As Xi noted, China and the U.S. should be partners and friends. That is what history has taught us and what reality calls for. He said he is ready to continue working with President Trump to build a solid foundation for bilateral relations and create a favorable environment for both countries' development.

As the world's two major powers, China and the U.S. have a profound influence on global stability. A healthy, stable and sustainable bilateral relationship serves the long-term interests of both nations and meets the shared expectations of the international community.

Guided by the vision of building a community with a shared future for humanity, Xi has put forward the Global Development Initiative, the Global Security Initiative, the Global Civilizations Initiative and the Global Governance Initiative.

During the meeting, Xi noted that President Trump has shown great enthusiasm for helping resolve regional hotspot issues, and China has also been working in its own way to promote peace and dialogue on various global challenges.

The world today still faces many difficulties. China and the U.S. can jointly shoulder their responsibilities as major countries, and work together to accomplish more meaningful and practical things for the benefit of the two nations and the entire world, Xi said.

Trump responded positively, saying that the U.S. and China have reached many important consensuses and will reach even more in the future.

China is the biggest partner of the U.S., and with joint efforts, the two countries can get many great things done for the world and have many years of success, Trump said.

At a time of sluggish global economic recovery and rising geopolitical tensions, the Xi-Trump meeting in Busan served as a stabilizer for major-power relations and a response to global uncertainty. It is also expected to inject positive energy into global peace and development.

Outcomes of China-U.S. Economic, Trade Talks in Kuala Lumpur, Malaysia 

China's Ministry of Commerce announced the results of the recent economic and trade discussions between Chinese and U.S. delegations held in Kuala Lumpur, Malaysia, on October 30.

According to a spokesperson for the ministry, the U.S. has agreed to cancel the 10-percent so-called "fentanyl tariffs" and extend the suspension of the 24-percent reciprocal tariffs on Chinese goods— which include products from Hong Kong and Macao special administrative regions—for an additional year. In response, China will adjust its countermeasures to match these changes. Both sides also agreed to continue extending certain tariff exclusion measures.

Additionally, the U.S. will pause for one year the implementation of a new rule introduced on September 29 that broadens "entity-list" export restrictions to cover entities that are at least 50 percent owned by listed entities. In parallel, China will suspend its relevant export control measures announced on October 9 for one year and will refine specific plans as needed, the spokesperson said.

The U.S. agreed to pause for one year measures under its Section 301 investigation targeting China's maritime, logistics and shipbuilding industries. China, in turn, will suspend its corresponding countermeasures for one year once the U.S. suspensions take effect.

Both sides also reached agreements on several other key areas, including anti-drug cooperation regarding fentanyl, expansion of agricultural trade, and the resolution of individual cases involving enterprises related to these key areas.

Furthermore, they reaffirmed the outcomes of the earlier Madrid economic and trade talks, held on September 14. The U.S. made constructive commitments in areas such as investment, while China pledged to properly address issues related to TikTok.

China remains committed to working with the U.S. to uphold and implement the critical consensus reached between the two heads of state during their meeting in Busan, the Republic of Korea, on October 30, where they engaged in in-depth discussions on China-U.S. economic and trade relations and pledged to strengthen cooperation in economic, trade, and other areas, the spokesperson added.

(Source: Xinhua News Agency) 

Copyedited by G.P. Wilson 

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