President Trump is now in Japan for his first meeting with Prime Minister Sanae Takaichi. The meeting is an early diplomatic test for Takaichi, the first woman to lead Japan. She took office only last week and has a tenuous coalition backing her. Trade is the focus of Trump’s Asia trip. In Malaysia, he participated in a […]
Politics
Trump in Japan, where he’ll meet new Prime Minister Takaichi; later with China’s President
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President Trump is now in Japan for his first meeting with Prime Minister Sanae Takaichi. The meeting is an early diplomatic test for Takaichi, the first woman to lead Japan. She took office only last week and has a tenuous coalition backing her.
Trade is the focus of Trump’s Asia trip. In Malaysia, he participated in a regional summit, seeking to realign the international economy with his “America First,” vision.
A trade deal between the U.S. and China is drawing closer, officials from the world’s two largest economies said Sunday as they reached an initial consensus for Trump and Chinese leader Xi Jinping to aim to finalize during their high-stakes meeting.
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Trump ‘might, just might,’ actually reach a deal with China
Chinese markets logged solid gains Monday and Hong Kong’s Hang Seng rose 1.1% to 26,434.69, while the Shanghai Composite index added 1.2% to 3,996.94 — reflecting growing hopes that after months of escalating trade disputes, Trump might be right when he said “I think we’re going to come away with a deal” with China.
“This isn’t just photo-op diplomacy. Behind the showmanship, Washington and Beijing’s top trade lieutenants have quietly mapped out a framework that might, just might, keep the world’s two largest economies from tearing up the field again,” Stephen Innes of SPI Asset Management said in a commentary.
Trump and Chinese leader Xi Jinping are expected to hold their high-stakes meeting on Thursday, on the sidelines of the Asia-Pacific Economic Cooperation forum in South Korea.
U.S. futures jump and world shares are mixed on chances for US-China trade deal
Asian shares surged Monday while European markets were little changed after Trump said he expected to reach a trade agreement with China.
Germany’s DAX gained 0.2% to 24,279.53 and the CAC 40 in Paris slipped 0.1% to 8,218.42. Britain’s FTSE 100 also shed 0.1%, to 9,640.12. The future for the S&P 500 jumped 0.9% while that for the Dow Jones Industrial Average was up 0.6%.
Work on trade deals that might alleviate friction between the U.S., China and other major trading partners has reassured investors, especially in Asia.
Japan’s benchmark Nikkei 225 gained 2.5% to 50,512.32, a new closing high following news that the world’s two largest economies had reached an initial consensus for Trump and Chinese leader Xi Jinping to finalize during a high-stakes meeting later in the week.
South Korea trade deal may not be ready during Trump’s visit
Treasury Secretary Scott Bessent said a potential agreement, which has been the subject of extensive negotiation, could require more time.
“Just a lot of details to work out,” he said. “Very complicated deal, and I think we’re very close.”
A sticking point has been Washington’s push for South Korea to invest $350 billion in the U.S.
U.S. Trade Representative Jamieson Greer said “Koreans have a great plan to invest in U.S. shipbuilding,” an industry that Trump wants to expand.
Trade deal with China is coming together
Bessent says there’s “a framework” for Trump and Xi to discuss during a meeting in South Korea later this week.
The details are still unclear, but Bessent said American and Chinese negotiators discussed tariffs, rare earths, fentanyl and “a substantial purchase of U.S. agricultural products.” Specifically, Washington wants Beijing to buy soybeans from U.S. farmers.
Trump chimed in by saying “we feel good” about working things out with China.
Even overseas, Trump keeping his eye on pet projects back home
As Air Force One approached Tokyo, Trump posted on social media about renovations at the Kennedy Center for the Performing Arts.
He said exterior columns had been “beautifully painted in a luxuriant white enamel color, replacing the fake looking gold paint that was there for years.”
There are also “many major improvements” on the way, including “seating, carpeting, wall coverings, ceilings, chandeliers, stages, heating and A/C, etc.”
Trump also posted a picture of the renovated Oval Office, which features extensive gold trim and more portraits of presidential predecessors.
“Look how beautiful the Oval Office is, now,” he wrote.
No reprieve for Canada
Trump is still upset about Ontario’s television advertisements criticizing his tariffs by citing a speech from former U.S. President Ronald Reagan.
Trump noted that the advertisement was yanked from the air, “but they did it very late” and “they let it play for another two nights.”
Trump said he wouldn’t meet with Canadian Prime Minister Mark Carney in South Korea, where they’re attending the same summit.
“I don’t want to meet with him,” he said. “I’m not going to be meeting with him for a while.”
(AP Photo/Mark Schiefelbein