Trump hails ‘lasting’ deal with Xi, dangles more possible tariff cuts

Just back from his whirlwind Asia tour, US President Donald Trump on Friday hailed a newly negotiated trade deal with China as a “long-lasting” victory even as he teased the possibility of more tariff concessions.

Aboard Air Force One en route to his Palm Beach, Florida, resort, Trump painted the Busan, South Korea, summit with Chinese President Xi Jinping on Thursday as a blockbuster for US agriculture, especially soybeans, and dangled the prospect of stronger trade ties.

“The deal with China is going to be wonderful. It’s going to be long lasting,” Trump said, crediting his personal rapport with Xi for the success. “I got along with President Xi very well … The meeting with China was incredible.”

Despite Trump’s chest-thumping, analysts said there are serious questions about the agreement that leave ample room for misunderstanding, misinterpretation and a slide into another downward spiral and do not address some of the most significant irritants in the US-China relationship.

“The rivalry’s structural fault lines remain intact,” said Han Lin, Shanghai-based China managing director with the Asia Group. “Unsurprisingly, both leaders are playing to their bases, not building lasting peace.”

‘We have a deal’: Trump claims breakthrough after ‘12 out of 10’ talks with Xi Jinping

Thursday’s pact, building on a framework announced earlier in the week, averts a threatened escalation in the trade war and secures a pledge by China to buy at least 25 million tons (22.68 million metric tonnes) of US soybeans annually for the next three years, along with sorghum and other farm products.

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