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Both Washington and Beijing struck an optimistic tone over the weekend, helping boost investor confidence as Japan’s Nikkei index crossed the 50,000-point mark for the first time.
Trump is expected to arrive in Tokyo in time to meet Emperor Naruhito, followed by talks on Tuesday with Japan’s new Prime Minister Sanae Takaichi, whom he praised as a protégé of the late Shinzo Abe.
Takaichi described the U.S.–Japan alliance as her government’s “top diplomatic and security priority.”
Trump’s Asia trip began Sunday in Kuala Lumpur, where he finalized several trade and cooperation deals on the sidelines of the ASEAN summit.
Agreements included new trade arrangements with Cambodia and Thailand, and a minerals partnership with Malaysia. Trump also sought to repair relations with Brazil’s President Luiz Inacio Lula da Silva, saying, “I think we’ll be able to do some pretty good deals.”
During a refueling stop en route, Trump met Qatari officials to discuss the fragile Gaza truce. His arrival in Malaysia featured a red-carpet welcome and a military fly-over by two F-18 jets.
The biggest focus of the trip remains the potential U.S.–China deal. Treasury Secretary Scott Bessent and China’s Vice Premier He Lifeng held two days of talks, reportedly reaching a “preliminary consensus” to avoid the 100 percent tariffs set to take effect on November 1.
Bessent confirmed that the tariffs were averted and hinted at agreements on rare earth minerals and soybean exports.
“It’s going to be great for China, great for us,” Trump told reporters in Kuala Lumpur.
Trump is scheduled to arrive in Busan, South Korea, on Wednesday for the APEC summit, where he will meet President Lee Jae Myung. The highlight of the tour will be Trump’s long-awaited meeting with Xi Jinping on Thursday, expected to determine the future of trade relations between the two nations.
Trump has also said he is “open” to meeting North Korean leader Kim Jong Un, their first potential encounter since 2019 at the Demilitarized Zone. South Korea’s reunification minister said there is a “considerable” chance the meeting could take place if Washington softens its stance on Pyongyang’s nuclear program.