A surprising success story unfolded during President Trump's recent trip to Asia, challenging conventional expectations. Despite the region's importance to US administrations, presidential focus has often been diverted elsewhere. This trend persisted into Trump's second term, raising concerns about the fate of Asian summits.
The ASEAN East Asia Summit and the Asia-Pacific Economic Cooperation (APEC) Leaders' Meeting, usually held together when APEC convenes in Asia, present a challenging itinerary. Previous US presidents have skipped one or both of these summits due to domestic priorities. With ongoing budget battles and a government shutdown, Trump could have easily cited an emergency to stay in Washington. Additionally, Trump's known aversion to multilateral meetings and the media hype surrounding summits often fail to deliver substantial outcomes.
However, Trump delivered on his promise to Malaysian Prime Minister Anwar Ibrahim, attending the ASEAN East Asia Summit. He made a strategic stop in Tokyo to meet Japan's new Prime Minister Sanae Takaichi, reinforcing the US-Japan partnership. Trump also finalized trade deals with several Asian countries, including APEC summit host South Korea, whose warm and thoughtful reception paid dividends for both sides.
While Trump couldn't convince North Korean leader Kim Jong-un to meet him on this trip, he didn't finalize the trade pact with Vietnam and didn't attend the APEC Leaders' meeting. Yet, this abbreviated Asia trip achieved significant results.
A highly anticipated meeting took place between Trump and Chinese President Xi Jinping, their first face-to-face encounter since Trump's return to the White House. By all accounts, it was a successful engagement. The leaders spoke positively about their relationship and future cooperation, establishing a stable framework for the next 12 months of negotiations.
Inevitably, there will be challenges and accusations amid reports of backtracking. But this meeting marked a positive turn in a critical relationship marked by volatility and rising tensions.
Xi committed to countering fentanyl flows, purchasing soybeans and other items, removing retaliatory tariffs, and suspending rare earth export controls. In return, the United States suspended export controls and cut tariffs by 10%.
Midwestern farmers struggling with highly tariffed crops welcomed the reciprocal tariff reductions and grain purchases. US auto assembly lines dependent on rare earth inputs from China also benefited from the deal. Port fees on shipping were dropped on both sides, further facilitating increased economic activity to the mutual benefit of both countries.
Critics argued that China had gained an advantage over Trump, achieving 'escalation dominance' or 'winning the trade war'. However, this is just the beginning of a lengthy process, and it's not the zero-sum game portrayed in the media. Both sides have made mistakes, and the Trump administration faces a steeper learning curve in US-China negotiations. So far, so-called 'competitive measures' and retaliation have resulted in a lose-lose dynamic.
But both sides are learning and adapting. They are refining their priorities, recognizing the necessity of cooperation amidst competition, and gaining a better understanding of each other's situations and positions through negotiations. While the medium to long-term outlook remains uncertain, negotiations must continue, and if conducted effectively, both sides stand to gain. Failure to do so will result in mutual losses.
The biggest success of the Trump-Xi meeting was the signal of hope it sent for the future. It demonstrated that these two global powers can meet, engage in respectful dialogue, and manage their interactions. This crucial guardrail against a downward spiral or hot conflict remains intact. The leaders' warmth, assertion of partnership, and plans to meet twice in the coming year offer a brighter future for people in both countries.
This positive outlook is a welcome outcome, especially for the United States and China, as they strive to 'make everything great again' from a firmer foundation.
