Overview
- The leaders are scheduled to meet Thursday at 11 a.m. local time in Busan (10 p.m. Wednesday ET) to cool tensions rather than hammer out a sweeping deal.
- Negotiators shaped a framework in Malaysia covering tariffs, rare earths, fentanyl enforcement and sizable U.S. farm purchases for leader review.
- Planners expect gestures such as eased Chinese export curbs on rare earths and a U.S. hold on broad tariff hikes, with steps on fentanyl financing under consideration.
- Treasury Secretary Scott Bessent says follow‑on leader visits are in play, with a likely Trump trip to Beijing early next year and Xi’s U.S. visit tied to the G20 next fall.
- Trump has touted leverage from the threat of steep tariff increases, has said he expects to lower some tariffs if progress is made, and wants to finalize a TikTok plan that keeps the app operating in the U.S.