Big Take Asia Trump Got an ‘Amazing’ Meeting. China Got Much-Needed Time
Oct 30, 2025
Brendan Murray, Global Trade Editor at Bloomberg, and John Liu, Executive China Editor based in Beijing, dive into the nuances of the recent U.S.-China trade truce. They discuss the concessions made by both sides, including tariff rollbacks and China's rare-earth controls. The conversation highlights the temporary nature of the agreement, the competitive dynamics shaping future relations, and how global responses to U.S. tariffs vary. They also explore China's strategic shift towards domestic consumption and the implications for international trade moving forward.
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One-Year Truce Buys Political Breathing Room
- The Busan summit produced a one-year trade truce between Trump and Xi, giving both sides breathing room.
- John Liu says China values the pause but remains wary of U.S. strategies to restrain its rise.
U.S. Concessions Outweigh China's Moves
- Brendan Murray scores the concessions and concludes China gave up less than the U.S. did.
- He predicts hawks in Washington will view the agreement as China getting the better end.
Talks Replace Binding Commitments
- The deal is short on written commitments and leans on a series of talks rather than a binding agreement.
- Brendan warns China prefers stringing talks along, which fits its long-term strategy.