{"id":529233,"date":"2025-10-26T13:43:26","date_gmt":"2025-10-26T13:43:26","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/529233\/"},"modified":"2025-10-26T13:43:26","modified_gmt":"2025-10-26T13:43:26","slug":"scott-bessent-hails-very-successful-framework-of-u-s-china-trade-deal","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/529233\/","title":{"rendered":"Scott Bessent hails ‘very successful framework’ of U.S.-China trade deal"},"content":{"rendered":"

Any agreement would be a relief to international markets even it does not address underlying issues involving manufacturing imbalances and access to\u00a0state-of-the-art computer chips<\/a>.<\/p>\n

Beijing recently limited exports of\u00a0rare earth elements<\/a>\u00a0that are needed for advanced technologies, and Trump responded by\u00a0threatening additional tariffs<\/a>\u00a0on Chinese products. The prospect of a widening conflict risked\u00a0weakening economic growth worldwide<\/a>.<\/p>\n

China\u2019s top trade negotiator, Li Chenggang, told reporters that the two sides had reached a \u201cpreliminary consensus,\u201d while Trump\u2019s treasury secretary, Scott Bessent, said there was \u201ca very successful framework.\u201d<\/p>\n

Trump also expressed confidence that an agreement was at hand, saying the Chinese \u201cwant to make a deal and we want to make a deal.\u201d The Republican president is set to meet with Xi on Thursday in South Korea, the final stop of his trip through Asia. Trump reiterated that he plans to visit China in the future and suggested that Xi could come to Washington or Mar-a-Lago, Trump\u2019s private club in Florida.<\/p>\n

Bessent told CBS\u2019 \u201cFace the Nation\u201d that the threat of additional higher tariffs on China was \u201ceffectively off the table.\u201d In interviews on several American news shows, he said discussions with China yielded initial agreements to stop the precursor chemicals for fentanyl from coming into the U.S., and that Beijing would make \u201csubstantial\u201d purchases of soybean and other agricultural products while putting off export controls on rare earths.<\/p>\n

The progress toward a potential agreement came during the annual summit of\u00a0the Association of Southeast Asian Nations<\/a>, in Kuala Lumpur, with Trump seeking to burnish his reputation as an international dealmaker.<\/p>\n

Yet his way of pursuing deals has meant serious disruptions at home and abroad. His import taxes have scrambled relationships with trading partners while\u00a0a U.S. government shutdown<\/a>\u00a0has him feuding with Democrats.<\/p>\n

Trump attends ceasefire ceremony between Thailand and Cambodia<\/p>\n

At the summit, Thailand and Cambodia signed an expanded ceasefire agreement during a ceremony attended by Trump. His threats of economic pressure prodded the two nations to halt skirmishes along their disputed border earlier this year.<\/p>\n

Thailand will release Cambodian prisoners and Cambodia will begin withdrawing heavy artillery as part of the first phase of the deal. Regional observers will monitor the situation to ensure fighting doesn\u2019t restart.<\/p>\n

\u201cWe did something that a lot of people said couldn\u2019t be done,\u201d Trump said. Cambodian Prime Minister Hun Manet called it a \u201chistoric day,\u201d and Thai Prime Minister Anutin Charnvirakul said the agreement creates \u201cthe building blocks for a lasting peace.\u201d<\/p>\n

The president signed economic frameworks with Cambodia, Thailand and Malaysia, some of them aimed at increasing trade involving critical minerals. The United States wants to rely less on China, which has used limited on exports of key components in technology manufacturing as a bargaining chip in trade talks.<\/p>\n

\u201cIt\u2019s very important that we cooperate as willing partners with each other to ensure that we can have smooth supply chains, secure supply chains, for the quality of life, for our people and security,\u201d U.S. Trade Representative Jamieson Greer said.<\/p>\n

Trump reengages with a key region of the world<\/p>\n

Trump attended this summit only once during his first term, and\u00a0U.S. Defense Secretary Pete Hegseth seemed unfamiliar<\/a>\u00a0with ASEAN during his confirmation hearing in January.<\/p>\n

This year\u2019s event was a chance for Trump to reengage with nations that have a combined $3.8 trillion economy and 680 million people.<\/p>\n

\u201cThe United States is with you 100%, and we intend to be a strong partner and friend for many generations to come,\u201d Trump said. He described his counterparts as \u201cspectacular leaders\u201d and said that \u201ceverything you touch turns to gold.\u201d<\/p>\n

Trump\u2019s tariff threats were credited with helping spur negotiations Thailand and Cambodia. Some of the worst modern fighting between the two countries took place over five days in July, killing dozens and displacing hundreds of thousands of people.<\/p>\n

The president threatened, at the time, to withhold trade agreements unless the fighting stopped.\u00a0A shaky truce<\/a>\u00a0has persisted since then.<\/p>\n

Malaysian Prime Minister Anwar Ibrahim<\/a>\u00a0praised the agreement between Thailand and Cambodia, saying at the summit that \u201cit reminds us that reconciliation is not concession, but an act of courage.\u201d<\/p>\n

Tariffs are in focus on Trump\u2019s trip<\/p>\n

Trump met Brazilian President Luiz In\u00e1cio Lula da Silva in Kuala Lumpur, who was also attending the summit. There has been friction between them over Brazil\u2019s prosecution of Jair Bolsonaro, the country\u2019s former president and a close Trump ally. Bolsonaro was convicted last month of attempting to overturn election results in his country.<\/p>\n

During their meeting, Trump said he could reduce tariffs on Brazil that\u00a0he enacted in a push for leniency for Bolsonaro.<\/a><\/p>\n

\u201cI think we should be able to make some good deals for both countries,\u201d he said.<\/p>\n

While Trump was warming to Lula, he avoided Canadian Prime Minister Mark Carney. The president is angry with Canada because of a television advertisement protesting his trade policies, and on his way to the summit, announced on social media he would\u00a0raise tariffs on Canada<\/a>\u00a0because of it.<\/p>\n

One leader absent from the summit was Indian Prime Minister Narendra Modi. Although he was close with Trump during Trump\u2019s first term, the relationship has been more tense lately. Trump caused irritation by boasting that he settled a\u00a0recent conflict between India and Pakistan<\/a>, and he has\u00a0increased tariffs on India<\/a>\u00a0for its purchase of Russian oil.<\/p>\n

___<\/p>\n

Associated Press writers Josh Boak in Tokyo and Jintamas Saksornchai in Bangkok contributed to this report.<\/p>\n","protected":false},"excerpt":{"rendered":"Any agreement would be a relief to international markets even it does not address underlying issues involving manufacturing…\n","protected":false},"author":2,"featured_media":529234,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5311],"tags":[1395,32,7686,7500,49,978,659],"class_list":{"0":"post-529233","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-united-states","8":"tag-china","9":"tag-donald-trump","10":"tag-scott-bessent","11":"tag-tariffs-and-trade","12":"tag-united-states","13":"tag-us","14":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115440766342619133","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/529233","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=529233"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/529233\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/529234"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=529233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=529233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=529233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}