BUSINESS

Xi Leverages Trade Clout to Win Concessions

After meeting President Trump on Thursday, Xi Jinping emerged self-assured — and the talks appeared to justify it. By wielding China’s near-monopoly on rare earths and its buying power for U.S. soybeans, Xi secured U.S. concessions: lower tariffs, suspended port fees on Chinese ships, and a delay to export controls that would have blocked more Chinese firms from American technology. Both sides also agreed to extend an earlier truce limiting tariffs. China “has become increasingly bold” in leveraging power and “happy to pocket” concessions, said Julian Gewirtz, a senior China policy official in President Joseph R. Biden Jr.’s administration.

Reviewed by JQJO team

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