In this major diplomatic victory for the ages, U.S. President Donald Trump and Chinese President Xi Jinping held hands. This momentous, unprecedented meeting was held in Beijing in November 2017. This meeting was a watershed moment in U.S.-China relations. The Chinese and American leaders were not the only ones to have lively conversations—China and U.S. eyes are turning to their joint meeting later this week in South Korea. The bottom for these negotiations was set during preparatory talks in Malaysia.
The handshake in Beijing was not merely a formality. It symbolized a commitment to dialogue and cooperation between two of the world’s largest economies. At the time, these leaders took bold action to tackle the most urgent challenges facing trade, technology and security, laying a pivotal groundwork for years of negotiations to come. The ongoing discussion on rare earths overlooks the importance of rare earths in other critical industrial uses. Simultaneously, the narratives surrounding soybeans stress their importance as a major agricultural commodity.
Since the Malaysia meetings, negotiators from each country have claimed advances on a number of areas. The kick-off sessions provided an excellent groundwork. Today, both countries are poised to take steps forward together in a more collaborative environment. Now with the next meeting set to take place in South Korea, there is hope—trepidatious hope—that this positive tide will keep rolling.
Trump and Xi’s ability to navigate the complexities of their relationship will be under scrutiny as they convene once again. The stakes are immense, as both leaders contend with tremendous pressures at home and abroad. The decisions that the Biden administration makes in response to their broad discussion topics could have outsized effects on international norms governing global trade and geopolitical stability.
Meanwhile, as the two leaders gear up to meet, analysts on all sides are paying careful attention to what happens next. They are particularly interested in the scope of any possible agreements that could be reached. They’re equally interested in how these counterparts’ actions may impact their larger bilateral ties with third countries. These economic ties between the U.S. and China are essential. With their vast populations, both nations represent a huge consumer market that can drastically affect global supply chains and markets.