In a high-stakes meeting marked by political theatrics and strategic posturing, U.S. President Donald Trump and Chinese leader Xi Jinping have temporarily steadied their turbulent relationship. The summit played out on the tarmac of a South Korean air base. The artistry of their relationship was revealed in moments where Trump and Xi barely exchanged hellos, arriving at and leaving the summit at the same time.
To hear Trump tell it, he came out of the meeting positively bubbling with possibility. He proclaimed it a “great success” and audaciously gave it a 12 out of 10. Yet this rosy picture stands in stark relief with the reality of deepening distrust that permeates the U.S.-China relationship. The discussion happened under intense fiscal constraints. China’s recent announcement that they will no longer buy any U.S. soybeans has put their thumb on the scale and it really hurts farmers—the backbone of Trump’s Republican base.
Xi Jinping couldn’t have timed his visit to South Korea any better. He really played it up by only confirming the meeting a day in advance. As Keyu Jin, an expert on Chinese economic strategies, recently noted in the New York Times, Xi’s recent focus is on resilience. He boiled it down to “strive, but break not.” This guiding principle is emblematic of China’s long-game mentality as it attempts to chart its course in an increasingly adversarial relationship with the US.
When the meeting was concluded, Trump then walked off camera looking for his car. This quiet one-on-one scene may come the closest to portraying the intricacies that lie within their bond. Xi’s acceptance of an offer for nothing more than a meet-and-greet at an airfield highlights the political arithmetic behind China’s diplomatic charm offense.
In recent developments, reports indicate that China has resumed buying U.S. soybeans, suggesting a willingness to ease tensions, albeit selectively. This latest advance arrives as both leaders seek to calm a rising tide of tensions that is roiling global markets.
According to Jason Bedford, a geopolitical analyst, “The nuance often missed in the rare earths debate is that China has an overwhelming position over the most strategic bit of the rare earth supply chain: the heavy rare earths used in advanced defense systems.” This underappreciated part of the negotiations is huge. The U.S. wants to reduce the tariffs that it has imposed on Chinese imports. In return, China would consider relaxing its rare earth metal export controls.
Xi Jinping’s focus on economic growth is vital for maintaining stability within China’s borders. His administration understands that job creation and wealth generation are fundamental and essential. These steps are intended to ensure the long-term resilience of the Chinese Communist Party.
Trump renewed hopes for such a deal, telling reporters that it could come together “pretty soon.” Observers like David Dollar believe Xi’s tactics are focused on dragging out negotiations to achieve the best possible terms for China. Keyu Jin summed it up well, “The notion that the U.S. can contain or defeat China is turning out not just wrong but silly.”
Kelly Ann Shaw, another analyst on U.S.-China relations, observed that while both countries attempt to manage their differences, “this is not a relationship that is necessarily going to improve dramatically anytime soon.” She described the need to approach any possible divorce with an eye to inflicting the least harm on both countries’ interests.
The meeting served as a reminder of the complexities surrounding U.S.-China relations, where attempts at cooperation often coexist with significant disagreements. The context for the current debates is undoubtedly a larger story of structural competition and cooperation.