Copyright The New York Times
After months of a global-economy-shaking trade war, the U.S. and China have reached a deal. Who won? The answer depends on whom you ask, but my colleagues Lily Kuo and David Pierson make a compelling case that Xi Jinping gave President Trump what he needed while giving up little in return. The art of letting Trump claim a win When President Xi of China walked out of his meeting with President Trump in South Korea yesterday, he projected the confidence of a man who’d played his hand well. By flexing China’s near monopoly on rare earth minerals and its purchasing power over U.S. soybeans, Xi won key concessions from Washington. They included: a reduction in tariffs and an agreement to extend a truce on new tariffs a suspension of port fees on Chinese ships the delay of U.S. export controls that would have barred more Chinese firms from gaining access to American technology. The outcome allowed Trump to claim a win for American farmers and companies — even though all China did was largely restore the status quo from earlier this year, including restarting its purchases of U.S. soybeans. Xi seemed to grasp what Trump needed: a deal that he could sell as a victory at home. Trump pumped a fist in the air as he boarded Air Force One. “Our Farmers will be very happy!” he posted on Truth Social afterward. “I would like to thank President Xi for this!” A country that can hit back In a Chinese government summary of Xi’s remarks from the meeting, the Chinese president almost sounded as if he was delivering a lecture. Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times. Thank you for your patience while we verify access. Already a subscriber? Log in. Want all of The Times? Subscribe.
