U.S.-China trade representatives complete preparations for 'Trump-Xi meeting'…"Very successful"

Summit to be held in Busan on the 30th

"Agricultural products, TikTok, fentanyl, rare earths, etc., to be discussed"

Ahead of the 'Busan summit' between U.S. President Donald Trump and Chinese President Xi Jinping, U.S. and Chinese trade representatives completed preparatory meetings in Malaysia.

On the 26th (local time), according to foreign media including Bloomberg and Reuters, U.S. Treasury Secretary Scott Bessent said after concluding the trade representatives' meeting in Kuala Lumpur, Malaysia, that a "very successful" framework had been created for the U.S.-China leaders' summit.

Secretary Bessent said the two countries exchanged views on agricultural purchases, TikTok, fentanyl (the so-called 'zombie drug'), trade, rare earths, and overall bilateral relations.

He added that it was "constructive, wide-ranging, and in-depth," and that "progress was made in creating a stage where the leaders can meet in a very positive frame."

Also that day, Jamison Greer, the U.S. Trade Representative (USTR) negotiator, told reporters that trade negotiations were advancing to a stage where the U.S. and Chinese leaders could have a very productive meeting, and that officials from both countries were coordinating the final details of the proposed trade agreement.

Representative Greer said, "There were broad consultations on all topics. We discussed extending the (trade war) truce, and we discussed rare earths," adding, "We have reached a stage where we can present material for the leaders to review."

Since April, when they have been exchanging high tariffs and trade control measures against each other, the U.S. and China have held high-level trade talks and discussed issues in a series of locations — Geneva, Switzerland (May); London, United Kingdom (June); Stockholm, Sweden (July); and Madrid, Spain (September).

This fifth high-level trade meeting, acting as a precursor to the 'Busan summit' between President Trump and President Xi Jinping, continued over two days, the previous day and that day.

President Trump told reporters aboard Air Force One en route to Malaysia regarding U.S.-China trade negotiations, "There is a lot to discuss with (President Xi). There are various trade agreements concluded in the past—some have been canceled, some have not—so there is a lot to discuss," and said, "I think it will be a good meeting."

He added, "They (China) will have to make concessions. I expect we will as well."

Park Su-rim, Hankyung.com reporter paksr365@hankyung.com