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trump-Xi Summit in Seoul: A Fragile Truce or a Turning Point?
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SEOUL, South Korea – President Trump convened with Xi Jinping in Seoul on Thursday, marking the moast meaningful international meeting of his second term. The encounter comes as China has risen as a formidable economic and military competitor to the United States,presenting a complex landscape for negotiations.
The Stakes: A Multifaceted Agenda
The two presidents tackled a broad and challenging agenda, dominated by the escalating trade war centered on tariffs and high-tech exports. Beyond trade, key discussion points included U.S. pressure on China to curb fentanyl exports, China’s support for Russia in the Ukraine conflict, the sensitive issue of Taiwan’s future, and China’s rapidly expanding nuclear capabilities.
trump, known for his optimistic pronouncements, predicted a “fantastic” outcome for both countries and the world. However,the potential for concrete results aligning with this optimistic outlook remains uncertain.
Trade: An Uneasy Truce?
A preliminary agreement, as reported by Treasury Secretary Scott Bessent, suggests a “framework” where China will postpone implementing stricter controls on rare earth elements – minerals vital for numerous high-tech applications, from smartphones and electric vehicles to military hardware. China also reportedly agreed to resume purchasing U.S. soybeans and intensify efforts to combat fentanyl component trafficking.
In exchange, the United States signaled a willingness to roll back some of the tariffs imposed on Chinese goods. However, former U.S. Ambassador to Beijing, Nicholas Burns, characterized this arrangement as “an uneasy trade truce rather than a comprehensive trade deal.” He acknowledged that even a limited agreement would be a positive step towards stabilizing global markets and maintaining trade flows.
| Issue | U.S. Position | China’s Position | Potential Outcome (as of Oct 28, 2025) |
|---|
| Date | Event |
|---|---|
| 2018-2019 | Initial rounds of US tariffs on Chinese goods, retaliatory tariffs from China. |
| January 2020 | “phase one” trade deal signed, offering limited tariff reductions. |
| 2021-Present | Continued trade friction, with ongoing concerns over trade imbalances and intellectual property. |
| october 23, 2023 | Trump threatens new tariffs of up to 155% if no deal is reached by November 1st. |
Impact and Potential Consequences
The imposition of new tariffs could have meaningful repercussions for both the US and Chinese economies,and also global supply chains. Increased tariffs typically lead to higher prices for consumers and businesses.
For the US, higher import costs could contribute to inflation and potentially slow economic growth. For China, reduced exports to the US could negatively impact its manufacturing sector. Global markets could experience volatility as investors react to the escalating trade tensions.
Expert Analysis
South Korea Rejects Trump’s Claim of 90% Profit Share in Trade deal
Seoul pushes back on U.S. Commerce Secretary’s assertion,emphasizing reinvestment and project-specific terms.
South Korea is operating under the assumption that a meaningful portion of its $350-billion investment in the United States will be reinvested, not unilaterally claimed by the U.S., according to a senior South Korean official. The clarification comes after U.S.Commerce Secretary Howard Lutnick claimed on social media that “90% of the profits” from the deal would go “to the American people,” a statement that has drawn sharp criticism and raised eyebrows in Seoul.
The assertion mirrors similar claims made by President Trump regarding a $550-billion investment package with Japan. However, Japanese officials have indicated that profits would be split proportionally based on each nation’s contribution and risk.
South Korean officials, including Kim, have stressed that the terms of the investment are still being defined and will be laid out on a “per-project basis.” Kim questioned the fairness of such a lopsided profit distribution, asking, “In a normal civilized country, who would be able to accept that we invest the money while the U.S. takes 90% of the profits?”
A Deal for Mutual Growth, Seoul Argues
South Korean President Lee Jae-myung has framed the substantial investment as a strategic move to bolster South Korean shipbuilding, semiconductor, and energy companies seeking to expand their presence in the U.S. market.
“This agreement is the meeting of the U.S.’ interest in reviving manufacturing and our intention to make South Korea companies more competitive in the U.S. market,” Lee stated in a social media post.He expressed hope that the deal would strengthen industrial cooperation and the existing military alliance between the two nations.
Trade Concessions: agriculture Remains a Point of Contention
While President Trump suggested that South Korea would be “entirely OPEN TO TRADE with the United States, and that they will accept American product including Cars and Trucks, Agriculture, etc.,” South Korean officials have clarified that agriculture was not part of the recent trade agreement. Specifically, no concessions were made on U.S. rice or beef,which have historically been significant points of negotiation between Seoul and Washington.
South Korea, a major importer of American beef, maintains a ban on beef from cattle older than 30 months due to concerns about bovine spongiform encephalopathy (BSE), commonly known as mad cow disease.
Rice, a staple crop and crucial for the livelihoods of South Korean farmers, is heavily protected by the government. Seoul currently imposes a 5% tariff on U.S. rice imports up to a quota of 132,304 tons, with tariffs soaring to 513% for any amount exceeding that limit.
“We were able to successfully defend a lot of our positions in those areas,” Kim affirmed, indicating that South Korea successfully protected its interests regarding these sensitive agricultural products.
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As of July 2025, the Comprehensive Economic and Trade Agreement (CETA) between the european Union and canada stands at a pivotal moment, poised for full ratification following necessary adjustments to national legal frameworks. This article delves into the intricacies of these legal changes,their implications for businesses and consumers,and the enduring value CETA offers in fostering transatlantic economic ties.
Understanding CETA: A New Era of Transatlantic Trade
The Comprehensive Economic and Trade Agreement (CETA) represents a landmark trade deal between the European Union and Canada, aiming to eliminate or reduce tariffs, harmonize regulations, and facilitate greater market access for businesses on both sides of the Atlantic. Negotiated over several years,CETA was provisionally applied in September 2017,but its full ratification hinges on the completion of domestic legal procedures in all EU member states. this process, while lengthy, is crucial for solidifying the agreement’s long-term impact and ensuring its provisions are fully integrated into national legal systems.
The Genesis of CETA: A Strategic Partnership
The origins of CETA lie in a shared vision between the EU and Canada to deepen their economic relationship,recognizing the mutual benefits of increased trade and investment. Both entities are major global economies with strong democratic values and a commitment to open markets. The agreement was designed to go beyond customary tariff reductions, addressing non-tariff barriers, services, investment, intellectual property, and sustainable development. Its negotiation was a complex undertaking, reflecting the diverse economic interests and regulatory landscapes of the 27 EU member states and Canada.
Key Provisions and Expected Benefits
CETA’s core objective is to create a more integrated and predictable trading habitat. Key provisions include:
Tariff Elimination: CETA eliminates 98% of tariffs on goods traded between the EU and Canada, making exports and imports more affordable.
services Market Access: The agreement opens up markets for services, including financial, telecommunications, and transportation sectors, allowing businesses to offer their services more easily across borders. Investment Protection: CETA includes provisions to protect investors, ensuring a stable and obvious environment for foreign direct investment.
Goverment Procurement: It grants businesses access to public procurement markets at federal, provincial, and municipal levels in both the EU and Canada.
Intellectual Property Rights: the agreement strengthens the protection of intellectual property, including geographical indications for food and beverages.
Sustainable Development: CETA incorporates commitments to environmental protection and labor rights, reflecting a modern approach to trade agreements.
The expected benefits are substantial, including increased trade volumes, job creation, economic growth, and enhanced consumer choice. For businesses,it means reduced costs,simplified procedures,and greater certainty. For consumers, it can lead to lower prices and a wider variety of goods and services.
The Ratification Process: Legal Hurdles and National Sovereignty
The ratification of CETA by all EU member states is a complex process that involves national parliaments and, in some cases, referendums. This underscores the importance of national sovereignty and the need for domestic legal frameworks to align with the international commitments made under the agreement.
Each EU member state has its own legislative procedures for approving international treaties. These typically involve parliamentary debates, committee reviews, and votes. The process can be influenced by domestic political considerations, public opinion, and the specific economic interests of each country. For CETA, the ratification has been a gradual process, with some member states completing their procedures relatively quickly, while others have faced more meaningful parliamentary or public scrutiny.
The Role of the European Court of Justice
In some instances, the compatibility of certain CETA provisions with EU law has been a subject of discussion, leading to scrutiny by the European Court of Justice (ECJ). The ECJ’s role is to ensure that international agreements entered into by the EU are consistent with the EU’s founding treaties and essential rights. Any rulings or interpretations from the ECJ can influence the ratification process and perhaps necessitate adjustments to the agreement’s implementation.
Recent Legal Developments and Their Impact
As of July 2025, several EU member states have been in the final stages of their ratification processes. Recent legislative changes in these countries are directly enabling the full implementation of CETA. These changes often involve updating national laws related to customs, investment, competition, and regulatory alignment to reflect the specific obligations and opportunities presented by the agreement. For example, a country might amend its foreign investment screening laws or its intellectual property legislation to fully incorporate CETA’s provisions.
CETA’s Value Proposition: Beyond Tariffs
The enduring relevance of CETA lies not only in its economic benefits but also in its role as a model for future trade agreements and