Experts say Donald Trump and Xi Jinping may use their summit to extend a fragile trade truce and steady US-China ties, rather than secure major deals. Washington also wants China to speed up critical-mineral shipments resumed after their Busan meeting.
US tariffs still average 36.5%, while China’s tariffs on American goods average 31%. Mary E. Lovely said a possible outcome is a Board of Trade mechanism for both countries to cut tariffs on $30 billion worth of goods each. She said the best case would be modest liberalization on non-sensitive goods and faster mineral shipments; the worst case is no common ground.
The current truce followed years of trade tensions. Trump threatened tariffs as high as 200% in his second term, and Beijing responded by throttling critical-mineral exports. Both sides pulled back after their Busan meeting. The dispute dates to Trump’s first term, when US tariffs on industrial imports drew Chinese retaliation involving soybeans, pork and electric vehicles.
