Trump-Xi talks are likely to produce a deal of substance, says geomacro strategist | The Business

The presidents of the US (Donald Trump) and China (Xi Jinping) are set to sit down for a high-stakes meeting on the sidelines of the APEC summit in South Korea later this week. Ahead of that meeting, US Treasury Secretary Scott Bessent has expressed optimism the two countries are closing in on a trade deal. Visiting Sydney, global geomacro strategist BCA Research Marco Papic says he expects a significant deal will be reached. Mr Papic says it could include the sale of TikTok, a framework on rare earths, chips and semiconductors. Mr Papic told ABC TV’s The Business that the push to resolve some of the sticking points between the two major economic superpowers shows that at least for now a “decoupling” between the two countries is impossible. He says Australia’s rare earths deal with the US shows America is bidding to be in a better situation five years from now while China is also hoping to use the next few years to improve its position in relation to semiconductors.
#ABCBusiness
Subscribe: http://ab.co/1svxLVE

ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It’s news when you want it, from Australia’s most trusted news organisation.

For more from ABC NEWS, click here: https://ab.co/2kxYCZY
Watch more ABC NEWS content ad-free on ABC iview: https://ab.co/2OB7Mk1

Go deeper on our ABC NEWS In-depth channel: https://ab.co/2lNeBn2
Like ABC NEWS on Facebook: http://facebook.com/abcnews.au
Follow ABC NEWS on Instagram: http://instagram.com/abcnews_au
Follow ABC NEWS on X (Twitter): http://twitter.com/abcnews

Note: In most cases, our captions are auto-generated.

#ABCNEWS #ABCNEWSAustralia