Scott Bessent has said: We finished China deal, signatures possible next week
On October 30, 2025, President Xi Jinping met with U.S. President Donald J. Trump in Busan. President Xi said that, under the guidance of both leaders, the overall relationship between China and the United States has remained stable. He emphasized that the two countries should view each other as partners and friends, noting that differences are natural given their different national conditions. As the two most influential economies, occasional disagreements are unavoidable. Xi stated that both leaders have the responsibility to guide the relationship through challenges and maintain steady progress, and expressed his willingness to continue working with President Trump to strengthen the foundation of bilateral ties.
President Xi highlighted the strong momentum of China’s economy. In the first three quarters of the year, China achieved 5.2% economic growth and saw a 4% increase in goods trade with global partners—an impressive performance given internal and external challenges. He described China’s economy as vast, resilient, and full of potential, and expressed confidence in China’s ability to handle risks. Xi said China will continue deepening reforms, expanding openness, and pursuing high-quality growth while increasing economic output and improving people’s well-being, creating more space for cooperation with the United States.
Xi also said that both sides had constructive discussions on major economic and trade issues and reached agreements on resolving specific problems. He called for quickly implementing the follow-up measures and ensuring that the agreements are honored, so that the results can boost confidence in both countries and the global economy. He noted that recent ups and downs in bilateral trade offer important lessons: economic ties should remain a stabilizing force in China-U.S. relations, not a source of friction. Xi urged both sides to focus on long-term benefits, avoid cycles of retaliation, and continue negotiations based on equality, mutual respect, and mutual benefit.
Xi stressed that dialogue is better than confrontation. He said China and the United States should maintain communication at multiple levels to improve mutual understanding and expand cooperation in areas such as combating illegal immigration, telecom fraud, money laundering, artificial intelligence, and infectious disease response. He said both countries should also interact positively on regional and global issues, as the world faces many challenges that require joint leadership from major countries. China will host APEC in 2026, and the United States will host the G20 summit next year. Xi said both sides can support each other to ensure successful outcomes.
President Trump said it was an honor to meet President Xi, praising China as a great country and Xi as a respected leader and long-time friend. Trump said the United States and China have always had a strong relationship and that the future will be even brighter. He added that both countries can achieve major accomplishments together and experience shared success. Trump said he looks forward to China hosting APEC in 2026 and the U.S. hosting the G20 next year, and expects both events to be successful.