President Donald Trump’s meeting with Chinese President Xi Jinping in Busan arrives as a high-stakes moment that could change relations with Beijing on trade, technology and security. Both sides are juggling threats of steep tariffs, fights over critical minerals and the future of companies like TikTok while Washington presses China on drug precursors and purchases of U.S. farm goods. This face-to-face will be watched by markets and allies alike for signs the U.S. is standing firm or making dangerous compromises.
The scene is set by an announcement that a framework deal may be presented when principals meet, signaling a possible short-term de-escalation. At stake is whether Beijing will hold back export controls and whether Washington will step away from the 100% tariff that was due to kick in. For Republicans, the calculation is simple: win concessions that protect American industry and national security, not symbolic pauses that let China regroup.
A successful meeting could calm markets, but the details matter far more than the optics. Rare earths and magnet exports are strategic levers that China has long weaponized, and any agreement must ensure American access without empowering Beijing’s supply-chain chokeholds. U.S. negotiators should make it clear that trade relief is conditional, verifiable and reversible if China fails to follow through.
Washington has a clear list of priorities it wants raised at the summit: increased Chinese purchases of U.S. agricultural products, a clean break on TikTok ownership, and tighter controls on precursor chemicals used to make fentanyl. “China’s going to be working with me,” Trump said when asked what Beijing would do to cut back on fentanyl trafficking. Promises are not enough; Republicans will insist on mechanisms to enforce commitments and hold China accountable.
The TikTok question is central and contentious, with administration figures expecting movement on a sale. Treasury Secretary Scott Bessent predicted on television that Trump and Xi would “consummate [the TikTok] transaction in South Korea on Thursday.” Skeptics in Congress warn that even a partial transfer could leave Beijing influence intact, a risk lawmakers are not willing to ignore when national security is on the table.
Lawmakers have been blunt. “‘I believe Xi Jinping views this as a strategic asset,” Rep. John Moolenaar, R-Mich., chair of the House Select Committee on competition with China told “‘Face the Nation.” “That’s why he didn’t want to sell it to some of the other American companies that were interested in purchasing it. So as long as they’re involved, I think we have to recognize that TikTok, even an American version, still could be open to influence from the Chinese Communist Party.” Those warnings frame the congressional test any deal will face.
Taiwan will loom over the talks as a core security concern, with U.S. planners warning Beijing could be capable of mounting an invasion within a few years. Xi is expected to press his case, but American policy under Republican leadership makes clear that deterrence and support for democracies are not bargaining chips. Secretary of State Marco Rubio sought to reassure Taipei that “no one is contemplating” veering away from Taiwan in exchange for preferential trade terms, and allies will expect that pledge to be backed by action.
Trump approached the summit with a bullish tone and an eye to alliances, underscoring recent outreach to Japan and South Korea. “That’s a big, big meeting, and I think it’s going to work out very well, actually. I think it’s going to be great for everybody,” he said ahead of the Busan talks. On trade and security, Republicans will be watching that words are matched by enforceable commitments that protect American interests and strengthen our alliances.
Alongside the hard bargaining will be a test of credibility: can the U.S. secure tangible, verifiable steps on trade, technology and illicit drugs without ceding strategic leverage to Beijing? The answer to that question will shape not just the immediate market reaction but the long game of competition with China, and Republicans in Congress will be ready to push back if any accord falls short of protecting the American people and economy.
