Published: November 3, 2025
BUSAN, South Korea— Chinese President Xi Jinping and U.S. President Donald J. Trump met recently in the South Korean port city of Busan, pledging to steady relations between the world’s two largest economies and deepen cooperation in trade, technology, and global governance.
The meeting, held Oct. 30, marked the first in-person talks between the two leaders since Trump’s return to office earlier this year. Both sides described the discussions as constructive and focused on stabilizing economic ties that have weathered years of tariffs, geopolitical friction, and technological rivalry.
Calls for Partnership and Stability
President Xi emphasized that Beijing seeks a “partnership of friends” with Washington, saying the two nations should “stay the right course” despite differences.
“Given our different national conditions, it is normal for the two leading economies of the world to have frictions now and then,” Xi said. “In the face of winds, waves and challenges, we should navigate through the complex landscape and ensure the steady sailing forward of the giant ship of China-U.S. relations.”
Xi described China’s economic recovery as resilient, citing a 5.2% expansion in the first three quarters of 2025 and a 4% rise in foreign trade. He reaffirmed Beijing’s commitment to “deepen reform, expand opening up, and promote higher-quality economic growth,” signaling opportunities for greater foreign investment and cooperation.
Trade and Global Economic Outlook
The two leaders agreed that robust economic ties remain critical not only for their own countries but also for global markets. China and the United States together account for about 40% of the world’s economic output and are central to global trade and supply chains.
Xi said both sides’ negotiating teams had made progress on “important economic and trade issues” and reached consensus on several fronts. He called for “solid deliverables” to restore business confidence and prevent the relationship from descending into “a vicious cycle of mutual retaliation.”
Trump, striking an optimistic tone, praised Xi as “a great leader” and reaffirmed his desire for closer cooperation. “China is a great country. The United States and China have always had a fantastic relationship, and it will be even better,” Trump said. “Together, our two countries can get many great things done for the world.”
Broader Cooperation Ahead
Beyond trade, both sides discussed collaboration on global challenges such as artificial intelligence regulation, anti-money laundering efforts, and public health security. Xi proposed enhancing dialogue across “various channels and at various levels” to strengthen mutual understanding.
The leaders also pledged to support one another in upcoming multilateral forums. China will host the Asia-Pacific Economic Cooperation (APEC) summit in 2026, while the United States will chair the Group of 20 (G20) summit next year. Both said they aim to use those gatherings to “promote world economic growth and improve global economic governance.”
Looking Ahead
The meeting concluded with an agreement to maintain regular high-level contacts and expand people-to-people exchanges. Trump invited Xi to visit the United States in 2026, while confirming his own plans to travel to China early next year.
Xi’s delegation included senior Chinese officials Cai Qi, Wang Yi, and He Lifeng. Analysts said the talks underscored a pragmatic turn in bilateral relations at a time when global economic headwinds, from inflation to supply chain disruptions, demand closer coordination between Washington and Beijing.
“The world’s two largest economies remain the key anchors of global stability,” said one Beijing-based economist. “Even modest cooperation between them can help steady markets and shape the next phase of global growth.”
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