Updated 11:29 AM EDT, Tue, Jun 16, 2020

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Xi and Trump Conclude 2-Day Summit: Trade and North Issue Dominate Talks

On the trade front, Xi and Trump agreed upon a 100-day plan to settle all their trade disputes.

(Photo : Nicolas Asouri - Pool/Getty Images) On the trade front, Xi and Trump agreed upon a 100-day plan to settle all their trade disputes.

Chinese President Xi Jinping and U.S. President Donald Trump wrapped up their two-day summit in South Florida on Friday, with both leaders describing the summit as a huge success. The highly-anticipated meeting, which was overshadowed by America's surprise strike against Syria, focused primarily on trade and the North Korea issue.

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On the trade front, Xi and Trump agreed upon a 100-day plan to settle all their trade disputes. The U.S. Commerce Secretary Wilbur Ross said that he is hopeful that this 100-day plan will help U.S. to increase export to China and subsequently reduce its trade deficit with the Asian giant.

Trump appeared to be very mindful of not using any trade rhetoric against China, something that he extensively used during his election campaign. There were no talks about Beijing being a currency manipulator, its alleged steel dumping practices or causing job loss to the U.S.

The Republican leader made it clear through a tweet last week that trade issue would dominate the summit. He had tweeted that the U.S. can no longer tolerate the massive trade deficit with China.

Trump and Xi remained upbeat during the summit

The overall air during the summit remained positive, with both leaders keeping an upbeat tone on their first high-profile meeting.

"We have made tremendous progress in our relationship with China," Trump told reporters during the meeting. "We will be making additional progress. The relationship developed by President Xi and myself I think is outstanding. "And I believe lots of very potentially bad problems will be going away."

In response, Xi said, "We have engaged in deeper understanding, and have built a trust." He further added that "I believe we will keep developing in a stable way to form friendly relations....For the peace and stability of the world, we will also fulfill our historical responsibility."

Both leaders agreed to cooperate over North Korea issue

Speaking after the two-day summit, U.S. Secretary of State Rex Tillerson told reporters that both leaders have agreed for more cooperation to rein down on North Korea's nuclear program. However, he declined to comment further on how both leaders will cooperate on the contentious issue.

Tillerson also claimed that during the discussions Xi agreed that the North Korea issue had reached a dangerous level.

The North Korea issue assumed even more importance as the U.S. bombed Syria exactly on the day when Xi arrived in the U.S. Although Beijing has chosen to stay away from the Syrian crisis, its stance is titled more towards Russia on the issue.

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