Skip to content
Search

Latest Stories

Analysis

Trump’s Asian trade blitz sets up sitdown with Xi

​US President Donald Trump shakes hands with Vietnam's Prime Minister Pham Minh Chinh at the ASEAN Summit in Kuala Lumpur, Malaysia, on October 26, 2025.

US President Donald Trump shakes hands with Vietnam's Prime Minister Pham Minh Chinh as East Timor's Prime Minister Kay Rala Xanana Gusmao and Singapore's Prime Minister Lawrence Wong look on at the ASEAN Summit in Kuala Lumpur, Malaysia, on October 26, 2025.

Vincent Thian/Pool via REUTERS
Make us preferred on Google

US President Donald Trump kicked off his five-day trip to Asia by signing a raft of trade deals on Sunday with Malaysia, Cambodia, Thailand and Vietnam at the Association of Southeast Asian Nations (ASEAN) summit in Kuala Lumpur. Next, Trump heads to Japan to meet newly-elected Prime Minister Sanae Takaichi Tuesday morning, before sitting down with Chinese President Xi Jinping in South Korea on Thursday. What should we make of Trump’s trip so far, and what can we expect in the week to come?

Deals! Deals! Deals! In Kuala Lumpur, Trump reached agreements that promise to eliminate tariffs on roughly 99% of goods with Thailand, reduce Washington’s $123-billion trade deficit with Vietnam, and secure Malaysia’s agreement not to restrict rare-earth exports to the US. Simultaneously, delegates from the US and China met on the sidelines, producing a preliminary framework for a deal that could pause new American tariffs and Chinese export controls, in preparation for Trump’s meeting with Xi on Thursday.


Tuesday with Takaichi. Next, Trump meets Takaichi, who took office last week. The new Japanese PM is known as a China hawk and has promised to ramp up defense spending to 2% of GDP two years ahead of schedule, which should please Trump. But she also must follow through on her predecessor’s pledge to funnel $550 billion worth of investment into the US by 2030. Japan is reportedly prepared to offer sweeteners to Trump in the form of increased purchases of US soybeans and trucks. The two countries are also set to sign an agreement to cooperate on advanced technologies including AI, quantum computing, and nuclear fusion.

The main event: Trump and Xi. The leaders of the world’s two largest economies will seek to ease a deepening trade war without ceding ground on critical priorities.

According to David Meale, Eurasia Group’s Practice Head for China, the two sides are looking to find a path between each other’s pain points. “In particular, critical minerals need to flow from China to keep advanced industries in the US and elsewhere operating, and certain technologies (especially advanced chips) need to be available to China for its development of emerging technology sectors that are central to its economic blueprint going forward.”

While full details of the Oct. 26 framework are not yet available, both sides aim to make progress on key issues. Trump wants better cooperation from Beijing on stopping the export of fentanyl precursors, as well as further commitments from China to buy US goods, especially agricultural products. Xi, meanwhile, wants to head off Trump’s threats to raise tariffs further and impose fresh export controls on US software exports. And both sides seek a “a final deal” on the sale of TikTok’s operations in the US.

Potential pitfalls. Trump has said he will raise the contentious questions of Taiwanese independence — which the US has implicitly supported despite longstanding Chinese objections — and possibly the detention of Hong Kong media mogul and activist Jimmy Lai. Florida Senator Rick Scott published an open letter urging Trump to press Xi for Lai’s release, and a group of Catholic bishops also has urged his freedom. Lai, who converted to Catholicism in 1997, has become a symbol of Hong Kong’s resistance.

Nonetheless, Meale expects that the meeting will strike a positive tone, due to the respect shown by the two leaders to each other. “Chinese officials believe President Trump is someone with which they can chart a course forward,” he says, “because he is pragmatic and demonstrates respect to President Xi.”

Postscript in Pyongyang? Trump mused this morning about the possibility of extending his trip to meet with North Korean leader Kim Jong Un. “I’d love to meet with him, if he’d like to meet,” said Trump. “It’s our last stop, so it’s pretty easy to do.”

More For You

The tide is turning in Russia-Ukraine war
In the early hours of May 17, more than 500 Ukrainian drones punched through three of Moscow’s four air-defense rings. They hit oil infrastructure, military-industrial plants, and apartment buildings in and around the capital, killing at least four and wounding a dozen. Coming three days after a deadly Russian barrage that Ukrainian officials [...]
PM Takaichi and President Lee Jae Myung shaking hands at a press event

Japanese Prime Minister Sanae Takaichi (L) and South Korean President Lee Jae Myung shake hands after a press event following their talks in Andong, South Korea, on May 19, 2026.

Kyodo via Reuters Connect
It was the jam session that rocked Asia. In January, a video of Japanese Prime Minister Sanae Takaichi and South Korean President Lee Jae Myung drumming to K-Pop hits went viral, heralding a new diplomatic era between their countries. Now it seems the band is back together and taking it on the road. This week, the two leaders are meeting again in [...]
Saudi Arabia's MBS shaking hands with the UAE President Mohammed bin Zayed Al Nahyan

Saudi Crown Prince Mohammed bin Salman receives UAE President Mohammed bin Zayed Al Nahyan, in Saudi Arabia, on September 3, 2025.

IMAGO/APAimages via Reuters Connect
For many years, mutual concern about Iran helped to paper over deeper disagreements between Saudi Arabia and the UAE. The two powerful and ambitious Sunni Gulf monarchies have been on opposite sides of the civil wars in both Sudan and Yemen, as well as in fierce competition for regional dominance in AI. But two months into the so-far unresolved [...]
​US President Donald Trump arrives at Beijing Capital International Airport in Beijing, China, on May 13, 2026.

US President Donald Trump participates in an arrival ceremony at Beijing Capital International Airport during his visit to the country, in Beijing, China, on May 13, 2026.

REUTERS/Evan Vucci
President Donald Trump stepped off Air Force One after landing in Beijing today, and the Chinese rolled out the red carpet: military honor guard, three hundred students waving American and Chinese flags, state banquet on the schedule. Trump, who flew in with a delegation of top cabinet officials and some of the biggest names in American business, [...]