Global Leaders Navigate Trade Tensions and Agreements

Canadian Prime Minister Mark Carney is set to visit Chinese President Xi Jinping in China, marking a 'turning point' in their strained relationship. The visit comes after the two leaders met for 40 minutes on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit. The meeting aimed to resolve outstanding trade issues and irritants between the two countries, which have been locked in a trade dispute since 2024. Canada has imposed tariffs on Chinese electric vehicles and steel, while China has retaliated with tariffs on Canadian agricultural products. The visit is seen as a significant step in improving relations between the two countries, particularly as Canada seeks to strengthen ties with other major economies amid rising trade tensions with the US.

China is set to loosen its ban on exporting chips to Europe following a row with the Netherlands over the takeover of Nexperia, a Chinese-owned chipmaker. The Netherlands used a Cold War-era law to take control of Nexperia, citing 'serious governance shortcomings', prompting China to ban the re-export of Nexperia chips to Europe. The move had raised concerns among European carmakers, who rely heavily on these chips. China's decision to relax its export controls comes after a meeting between US President Donald Trump and Chinese leader Xi Jinping, where they discussed chips and trade. The White House is expected to release a fact sheet detailing a new trade agreement with China.

The article discusses the meeting between US President Trump and Chinese President Xi Jinping in South Korea, where they reached agreements on several trade-related issues. Trump announced that the US and China have agreed to resume soybean sales, delay export restrictions on rare earth minerals for a year, and ease tariffs on Chinese goods. The two leaders also discussed the fentanyl crisis, TikTok's operation in the US, and China's purchase of US-made chips. While Trump described the meeting as 'amazing', the agreements reached are short-term and subject to renegotiation.

China's Ministry of Commerce is considering exempting some Nexperia orders from an export ban imposed after the Netherlands seized control of the Chinese-owned Dutch chipmaker. The move aims to stabilize the supply of Nexperia chips in global supply chains, particularly in the car industry. The decision reflects the progress made between Chinese President Xi Jinping and US President Donald Trump during their meeting in Busan, South Korea.

Canadian Prime Minister Mark Carney met with Chinese leader Xi Jinping and described the talks as a 'turning point' in relations between the two countries. Carney raised sensitive topics such as foreign interference and accepted an invitation to visit China in the new year. The meeting comes as both Canada and China face trade tensions with the US, led by President Donald Trump. Carney apologized to Trump for a Canadian ad campaign that Trump deemed 'fake' and which led to a deterioration in Canada-US trade talks.