Trump and Xi’s economic ceasefire is holding – just

(Lowy The Interpreter) Donald Trump ended his China trip with little to show for it. With a suite of business leaders joining the US President in China, it was clear that the American agenda would focus on the economic relationship. The outcome was minimal, relieving none of the structural tensions in the US-China relationship. The economic ceasefire – first agreed in November last year in South Korea on the sidelines of the APEC summit – saw both sides lower bilateral tariffs and China pause its rare earth export controls. That truce appears to be holding. While Xi has given Trump some additional concessions, they are small and easy to renege on. The bigger sticking points around tariffs, critical mineral and semiconductor export controls, AI competition, and the broader imbalance in bilateral trade remain unaddressed. – Trump and Xi’s economic ceasefire is holding – just | Lowy Institute