Beyond the optics of handshakes and photo-ops at the Busan summit, the much-hyped Trump–Xi meeting laid bare the paradox that defines US–China relations today: deep economic interdependence coupled with unrelenting strategic rivalry.

The Summit of Distrust

At the Busan meeting, Donald Trump and Xi Jinping announced a limited set of economic and diplomatic understandings aimed at easing immediate tensions without altering the fundamentals of their rivalry. The U.S. agreed to reduce certain tariffs on Chinese imports, while China pledged to resume large-scale purchases of American agricultural products and to delay the expansion of its rare-earth export controls. Both sides promised greater cooperation on curbing fentanyl precursor exports and maintaining stable supply chains, and they reaffirmed the need to prevent escalation in trade and technology disputes.

While the Busan deal was hailed as a diplomatic breakthrough, it exposed a deeper void: there is still no framework for strategic coexistence between Washington and Beijing. The reason is simple—there is no trust. Beijing knows that under Donald Trump, U.S. foreign policy swings between confrontation and concession, depending on the political winds. And despite years of........

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