President Xi Jinping and U.S. trade teams marked a turning point in China-U.S. economic ties at the 32nd APEC Economic Leaders' Meeting in Gyeongju. After landing in Busan, Xi met with his U.S. counterpart, Donald Trump, and welcomed deep-dive talks between their economic and trade envoys.
In his address, President Xi emphasized that bilateral trade should serve as "ballast and driver of ties, not obstacles or sources of conflict." He urged both sides to shift focus from tit-for-tat retaliation to long-term gains from cooperation, underscoring the need for stability in a volatile global economy.
According to Xi, the teams have already narrowed down a list of outstanding issues and agreed to expand areas of collaboration based on the principles of equality, respect and mutual benefit. While details remain under wraps, analysts say this consensus could pave the way for smoother supply chains and more resilient markets across key sectors.
The move comes at a crucial moment as global traders navigate post-pandemic recovery, inflationary pressures and the digital transformation of industries. Experts estimate that even a modest improvement in China-U.S. trade relations could add hundreds of billions of dollars to global GDP over the next five years.
For young entrepreneurs, tech innovators and digital nomads, the consensus signals a more predictable environment for cross-border investments and partnerships. Meanwhile, policy watchers will be tracking how both sides translate this agreement into concrete actions, from tariff rollbacks to joint R&D projects.
As the APEC Economic Leaders' Meeting continues, all eyes will be on follow-up meetings between trade teams, with hopes high that this latest accord sets a positive tone for future summits and summitry.
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President Xi says China, U.S. economic, trade teams reached consensus
cgtn.com
