Trump says China trip is 'not too distant' as trade tensions ease
Trump made the remarks while hosting Philippine President Ferdinand Marcos Jr. at the White House, where he praised the 'fantastic military relationship' with Manila as the US looks to counter China's influence in the Indo-Pacific region.
Yet, Trump still said the US is 'getting along with China very well. We have a very good relationship.' He added that Beijing has resumed shipping to the US 'record numbers' of much-needed rare earth magnets, which are used in iPhones and other high-tech products like electric vehicles.
Widely speculated about since Trump returned to the White House, a summit between Trump and Chinese President Xi Jinping would be expected to stabilize — even for a short while — a difficult relationship defined by mistrust and competition.
Beijing believes a leader-level summit is necessary to steady US-China relations and that Trump must be wooed because he has the final say on America's policy toward China, despite more hawkish voices in his Cabinet, observers say.
The question, however, is when.
Danny Russel, a distinguished fellow at the Asia Society Policy Institute, said Trump has consistently shown his hunger for a visit to China and that Beijing has used that to bolster leverage.
'As soon as the leadership in Beijing is satisfied that Trump will be on his best behavior and will accept terms for a deal that they think are favorable, they will give a green light to the visit,' Russel said.
Sun Yun, director of the China program at the Washington-based think tank Stimson Center, said a visit 'is in the making' with two sides likely to strike a trade deal.
What Trump said might mean the visit would not be in September but 'potentially November, but still depends on whether they play ball on trade and other things we want,' Sun said.
Trump's campaign to impose tariffs on other countries kicked off a high-stake trade war with Beijing. China raised tariffs on US goods to 125 percent in response to Trump's hiking the tax on Chinese goods to 145 percent.
Both sides also imposed on each other harsh trade restrictions on critical products: China on rare earths, and the US on computing chips and jet engine technology.
Trade tensions, however, eased following two rounds of high-level talks in Geneva and London, when the two sides agreed to lower tariffs — pending a more permanent deal by mid-August — and pull back on trade restrictions.
Treasury Secretary Scott Bessent said Tuesday on Fox Business' 'Mornings with Maria' that he will be meeting with his Chinese counterparts in Stockholm next week to work on 'what is likely an extension' of the Aug. 12 deadline.
'I think trade is in a very good place with China,' Bessent told host Maria Bartiromo. 'Hopefully, we can see the Chinese pull back on some of this glut of manufacturing that they're doing and concentrate on building a consumer economy.'
He said he also expects to bring up China's purchases of Russian and Iranian oil and Beijing's role in aiding Moscow in its war against Ukraine.
Beijing has not announced any travel plans for Vice Premier He Lifeng, who led trade negotiations in both Geneva and London on behalf of the Chinese government, but it is not unusual for China to make such announcements closer to a travel date.
In a possible friendly gesture, Beijing on Tuesday said it suspended an antitrust investigation into chemical maker DuPont's operations in China. China's State Administration for Market Regulation made the announcement in a one-line statement but gave no explanation for the decision.
DuPont said in a statement that it is 'pleased' with China's action.
Chinese regulators launched the investigation in April against DuPont China Group, a subsidiary of the chemical giant, as part of Beijing's broad, retaliatory response to Trump's sky-high tariffs.
Beijing also has agreed to approve export permits for rare earth elements and rare earth magnets that US manufacturers need to build cars, robots, wind turbines and other high-tech products. The US has eased restrictions on some advanced chips and other technologies.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Korea Herald
an hour ago
- Korea Herald
Some joint military exercises delayed to September amid heat, says JCS
South Korea and the United States will proceed with their annual Ulchi Freedom Shield joint military exercise as planned from Aug. 18-28, though about half of the associated field training exercises will be rescheduled to September due to extreme heat, the militaries of both nations said Thursday. Col. Lee Sung-jun, spokesperson for South Korea's Joint Chiefs of Staff, said that out of some 40 planned outdoor drills, around 20 will be moved to September. "In light of the extreme heat and the need to maintain a balanced readiness posture year-round, South Korea and the United States agreed to adjust some of the drills to September after close consultations," he said. He stressed that the rescheduling was not a reduction in scope, noting that most of the postponed drills involve battalion-level training, such as airfield defense, recovery and equipment maintenance exercises. The core components of UFS — including the computer-based command post exercise, field training exercises directly linked to the UFS scenario, and drills involving US augmentation forces — will proceed as originally scheduled. The adjustment comes amid growing expectations that the Lee Jae Myung administration may seek to soften military activities within the South Korea-US alliance. On July 28, Unification Minister Chung Dong-young said he would propose to President Lee that the combined exercise schedule be modified. A high-ranking Unification Ministry official who declined to be named also said, "A modification was made," ahead of the JCS briefing Thursday morning. "North Korea" was omitted from the official joint statement announcing the exercise, released on the same day. The JCS spokesperson, however, dismissed claims that the omission reflected a conciliatory approach toward Pyongyang on the part of the Lee Jae Myung administration, noting that terminology varies every year. "It was also omitted in the 2022 and 2024 statements. The wording is determined through mutual consultation between South Korea and the US," Lee said, noting that similar cases occurred during the conservative Yoon Suk Yeol administration. While drills to counter North Korea's missile threats will be held, scenarios involving the North's actual use of nuclear weapons are not part of this year's exercise, he added. US Forces Korea spokesperson Col. Ryan Donald emphasized that the quality of training is what matters most in building readiness. "We remain focused on our objectives, which are clear: to maintain peace and security on the Korean Peninsula, ensure our combined forces are ready to respond to a variety of threats — from hybrid and conventional to weapons of mass destruction — and address broader regional challenges," he said. The exercise will incorporate lessons from the modern battlefield, including drone, cyber and space threats, while also factoring in growing military cooperation between Russia and North Korea. About 18,000 South Korean troops will take part, similar to last year, along with US forces and United Nations Command members. The Neutral Nations Supervisory Commission will also monitor compliance with the armistice.
Korea Herald
3 hours ago
- Korea Herald
Seoul shares end higher on tech, auto gains
South Korean stocks closed higher Thursday, tracking overnight gains on Wall Street, with strong performances in tech and auto shares leading the advance. The Korean won also rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 29.54 points, or 0.92 percent, to close at 3,227.68. Trade volume was moderate at 324.1 million shares worth 11.16 trillion won ($8.08 billion). Advancers outnumbered decliners 459 to 406. Overnight, the Dow Jones Industrial Average gained 0.18 percent, while the tech-heavy Nasdaq Composite rose 1.21 percent. In the local market, institutions bought a net 109.08 billion won worth of shares, while foreign investors and retail investors sold a net 17 billion won and 196.58 billion won, respectively. Analysts said institutional buying helped buoy the main index, despite ongoing concerns over US import tariffs and a potential slowdown in the US economy. US President Donald Trump's reciprocal tariffs took effect at 1:01 p.m. Thursday (Korea time), but analysts said the impact on the main index was limited, as the tariffs had already been priced into the market. In Seoul, tech and auto stocks led the gains. Market bellwether Samsung Electronics rose 2.47 percent to 70,500 won on news that the chipmaker will manufacture Apple Inc.'s next-generation processor at its foundry in Austin, Texas. The tech giant also got a boost from the South Korean trade minister's comments that Korean semiconductor firms will likely face lower US tariff rates than global peers and competitors, citing the latest trade deal signed last week between Seoul and Washington, in which the latter agreed to offer most favored nation (MFN) status to South Korean chipmakers when it comes to import tariffs on semiconductors. US President Donald Trump has said his administration may impose 100 percent tariffs on all chip and semiconductor imports. Chip giant SK hynix advanced 1.35 percent to 262,000 won. Top carmaker Hyundai Motor gained 0.95 percent to 212,500 won following reports that the Korean automaker and General Motors will jointly develop five new models for the US and other markets in the Americas. Top shipbuilder HD Hyundai Heavy Industries rose 1.82 percent to 475,000 won, while tech firm Kakao spiked 11.97 percent to 63,600 won. Leading battery maker LG Energy Solution edged up 0.65 percent to 386,500 won. Among decliners, major steelmaker POSCO Holdings slipped 0.34 percent to 297,500 won, and top refiner SK Innovation dropped 0.46 percent to 108,500 won. The local currency was quoted at 1,381.20 won against the greenback at 3:30 p.m., up 8.3 won from the previous session. Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys fell 2.2 basis points to 2.408 percent, while the return on the benchmark five-year government bonds declined 1.8 basis points to 2.551 percent. (Yonhap)
Korea Herald
4 hours ago
- Korea Herald
Trump threatens takeover of Washington to fight crime
WASHINGTON (Reuters) -- President Donald Trump on Wednesday suggested he may use the National Guard to police the streets of Washington in his latest threat to take over running the city that serves as the seat of the US government. "We have a capital that's very unsafe," Trump told reporters at the White House. "We have to run DC. This has to be the best-run place in the country." Trump, who has threatened a federal takeover of the city multiple times, renewed those threats after a young staffer who was part of Elon Musk's Department of Government Efficiency was assaulted over the weekend. Musk , the billionaire former adviser to Trump who once spearheaded the DOGE effort, said the man was beaten and received a concussion. "It is time to federalize DC," he wrote. Asked if he was considering taking over the Washington police, Trump responded affirmatively. "We just almost lost a young man, beautiful handsome guy that got the hell knocked out of him," Trump said. The president posted a picture of the victim, Edward Coristine, known by the nickname "Big Balls," on social media, with blood on his face, arms, torso and legs. "We're going to beautify the city. We're going to make it beautiful. And what a shame, the rate of crime, the rate of muggings, killings and everything else. We're not going to let it. And that includes bringing in the National Guard, maybe very quickly, too," Trump said. A spokesperson for Washington Mayor Muriel Bowser declined to comment. Violent crime in the first seven months of 2025 was down by 26 percent in Washington compared to last year while overall crime was down about 7 percent, according to records on the police department's website. Overall crime was down 15 percent in 2024, compared to 2023, the website showed. The District of Columbia was established in 1790 with land from neighboring Virginia and Maryland. Congress has control of its budget, but resident voters elect a mayor and city council, thanks to a law known as the Home Rule Act. For Trump to take over the city, Congress likely would have to pass a law revoking that act, which Trump would have to sign. The president said on Wednesday that lawyers were already looking at overturning the Home Rule Act.
