Xi-Trump meeting sparks optimism in China — but many wonder what comes next

Many individuals in China cheered the assembly Thursday between President Xi Jinping and U.S. President Donald Trump, after months of escalating bilateral tensions.

Each time the 2 leaders meet, it helps ease tensions and creates a “constructive environment,” Alex Hongcai Xu, chair of Beijing Honglve Consulting, stated in Mandarin, translated by CNBC. “This environment is helpful for negotiations.”

“Both sides decreasing tariffs to beneath 10% would profit capital flows and cooperation,” Xu stated. He famous that China can doubtless purchase extra U.S. soybeans and U.S.-made Boeing airplanes.

Trump stated Thursday after the assembly that the U.S. would halve a 20% fentanyl-related tariff on China, bringing the overall obligation on Chinese language items to 47%. That marked a pointy reversal from his earlier risk to impose a further 100% tariffs on China beginning Saturday.

However Trump gave few particulars on whether or not the U.S. would encourage extra Chinese language funding, saying solely that “they’ve investments [in the U.S.] and they’re going to make investments.”

Xu stated he hoped Washington would permit extra Chinese language corporations to speculate domestically, which he stated would create jobs within the U.S. and increase home manufacturing whereas lowering Chinese language exports.

Chinese language companies, for his or her half, have been looking for alternatives overseas because the home economic system slows.

“If the U.S. coverage might be extra sure, or provide the prospect of lowered tariffs, then not less than Chinese language investments in different international locations can enhance,” stated Luke Li, who works in energy-related manufacturing and commerce in Beijing, in keeping with a CNBC translation of his remarks in Chinese language.

“So long as they meet, there will likely be progress,” Li stated, noting that “we’re most targeted on U.S. tariffs on China, whether or not this will likely be adjusted.”

As Xi and Trump met in South Korea Thursday morning native time, “China-U.S. leaders’ Busan Summit” was the highest trending hashtag on Weibo, a social media platform just like X.

“Curiosity Fee Lower” was the second most-popular hashtag, whereas the fourth-ranked trending matter additionally centered on the Trump-Xi assembly.

Many of the posts, nevertheless, have been by Chinese language information retailers. Person feedback have been temporary, similar to “lengthy stay China-U.S. friendship” and “China-U.S. mutual success,” in keeping with a CNBC translation. It was unclear whether or not every remark represented a separate person.

On the fashionable Xiaohongshu, or RedNote, app, one of many few posts on the summit was by economist and frequent social media commentator Tune Qinghui, who wrote in Chinese language: “Sit up for the early arrival of the China-U.S. honeymoon interval.”

Beijing restricts entry to X and plenty of different U.S. social media platforms, whereas sustaining tight management over home information retailers.

Whereas Chinese language state media initially targeted on Beijing’s newest house exploration plans and downplayed the Trump-Xi assembly — opting to spotlight Xi’s attendance on the Asia-Pacific Financial Cooperation Financial Leaders’ assembly as a substitute — official protection ramped up after the talks started. The Chinese language overseas ministry did not verify the Trump-Xi assembly till Wednesday afternoon.

State broadcaster CCTV, which spent a lot of Thursday morning masking China’s newest Shenzhou-21 house mission, started sending common updates about the assembly solely after the 2 leaders met.

China’s official readout of Xi’s opening remarks stated Beijing was able to work with Washington, quoting Xi as saying that “China’s improvement and revitalization goes hand in hand with President Trump’s imaginative and prescient to ‘Make America Nice Once more.'”

“Trump [has been] overly assured. He does not hear,” Xu stated, referring to the U.S. president’s give attention to ramping up tariffs.

“If the U.S. and China are in a large number, can the U.S. change into nice once more?” he stated. “No means.”