By Staff writer
Photo courtesy: AP
The planned meeting on October 30 in Busan between U.S. President Donald Trump and Chinese President Xi Jinping offers an opportunity to discuss and come up with concrete recommendations and solutions to pertinent issues which include tariffs, trade and US meddling in Taiwan affairs. The meeting is planned to take place on the sidelines of the APEC Economic Leaders’ Meeting to be being held in South Korea.
The world is affected by disruption of supply chains when US and China, the biggest economies fail toagree on trade modalities, rules and regulations as per World Trade Organization guidelines. Restrictions of Chinese goods especially technology is seen as protectionism that is a hindrance to global free trade. By hiking tariffs on Chinese goods, the US is using trade as a weapon to weaken or even kill Chinese economy.
“Summits can easily become displays of optics without impact. But given the deep interconnectedness of the U.S. and Chinese economies, and the global ripple effects of their rivalry, this meeting must deliver concrete progress. If the leaders leave Busan with vague statements and no follow-through, the world will take note. Even a modest agreement that brings clarity and predictability could help restore confidence in global trade,” experts have said.
Experts have also mentioned that lowering or removing tariffs is not a sign of weakness but a step towards mutual growth and the two sides should have clear communication channels to handle disputes. “What would make this meeting meaningful is a shared understanding that trade is not a zero-sum game. Lowering or removing tariffs is not a sign of weakness but a step toward mutual growth. Establishing a framework for stability in key supply chains—technology, agriculture, and rare earths—would signal a joint commitment to avoid sudden shocks and retaliatory measures. Equally important is the creation of clear communication channels that can handle disputes before they escalate into sanctions or trade barriers.”
