Summit establishes dialogue mechanism but lacks verification, prioritizing process over grand deal in U.S.-China rivalry
By JIANLI YANG – Nov 4, 2025
The Trump–Xi Jinping summit held in South Korea under the APEC framework did not end the trade war nor reshape the global order. The two leaders sought a temporary ceasefire in the economic conflict—a “trade truce.” The agreements reached were stopgap measures to buy time in a battle where neither side could fully win nor afford to lose completely.
Both nations recognized the harsh reality that while they could severely damage each other’s supply chains, markets, and technology ecosystems, doing so would also inflict significant self-harm. Prior to the summit, China’s announcement of rare-earth export restrictions and Trump’s declaration of a 100% tariff hike were mere bluffs. Trump told reporters aboard Air Force One shortly before the meeting that the tariff increase would not be implemented, while China postponed its export restrictions by one year.
China agreed to strengthen crackdowns on fentanyl flows into the U.S., and the U.S. pledged to halve the 20% tariff on fentanyl-related Chinese imports. Xi Jinping promised large-scale soybean purchases and a temporary suspension of countermeasures against U.S. Section 301 actions. The U.S. also agreed to halt the expansion of export controls and suspend reciprocal port fee charges.…. [Continue Reading]
Source: https://www.chosun.com/english/opinion-en/2025/11/03/YGNSI4E3LZAPPKVOTP32PK7P3E/