ASEAN Summit: Major Diplomatic Advances and US-China Trade Talks
REPORTER:
Host Malaysia rolls out the red carpet for dignitaries from around the world for a second time this year. This is the second of 2025’s summits bringing together the members of the Association of Southeast Asian Nations—or ASEAN. But the list of guests goes well beyond the bloc. Non-members from the US and China to Brazil and South Africa have sent their own VIPs, too.
REPORTER:
There’s been progress since the bloc’s last meeting in May. Just back in July, Cambodia and Thailand were firing at each other across their contested border, killing at least 48 people. But now, they’ve signed an “enhanced” ceasefire deal along with US President Donald Trump, whose intervention helped stop the fighting.
REPORTER:
It’s already having an impact, with Cambodia withdrawing weapons from the Thai border Sunday. And the two country’s prime ministers are optimistic.
Hun Manet (CAMBODIAN PRIME MINISTER):
Ladies and gentlemen, today marks an historic moment of profound significance for Cambodia and Thailand. A day that we affirm our shared conviction that peace is always possible when nations have the courage and wisdom to pursue it together.
Anutin Charnvirakul (THAI PRIME MINISTER):
This declaration reflects our will to resolve differences peacefully in full respect of sovereignty and territorial integrity. This declaration, if fully implemented, will provide the building blocks for lasting peace. But more importantly it will begin the process of mending our ties.
REPORTER:
As of Sunday, ASEAN also has a new member: Timor-Leste. Southeast Asia’s poorest and youngest country gained independence in 2002—and accession to ASEAN has taken over a decade. The country’s prime minister says it’s a big moment for the country’s 1.4 million people.
Xanana Gusmão (TIMORESE PRIME MINISTER):
For the people of Timor-Leste, this is not only a dream realized, but a powerful affirmation of our journey – one marked by resilience, determination, and hope.
REPORTER:
It’s the US-China talks happening on the sidelines, though, that have grabbed the world’s attention. Trump looks to be in high spirits as the two sides hammer out a framework of a trade deal—a possible de-escalation in what’s been a punishing trade war. That’s ahead of a meeting Trump’s scheduled to have with Chinese President Xi Jinping in South Korea later this week.
Scott Bessent (US TREASURY SECRETARY):
The President had given me maximum leverage when he threatened 100% tariffs if the Chinese imposed their rare earth global export controls. So, I think we have averted that. We also agreed on substantial agriculture purchases for U.S. farmers. We agreed that the Chinese would begin to help us with the precursor chemicals for this terrible fentanyl epidemic that's ravaging our country.
Li Chenggang (CHINESE VICE COMMERCE MINISTER):
There were numerous items on the agenda, including export controls on both sides, the issue of reciprocal tariffs for a long time, the issue of fentanyl tariffs and cooperation on banning the production of fentanyl.
REPORTER:
Absent in the talks was any mention of Taiwan—one of the sore spots in US-China relations. China claims Taiwan and says it will use force to take it if need be.
REPORTER:
Though it’s still possible Taiwan could come up in the Trump-Xi meeting, US Secretary of State Marco Rubio says the country won’t be a bargaining chip in talks that are really about trade.
REPORTER:
The ASEAN summit ends Tuesday. But there’s still more to come from Trump’s whirlwind week of diplomacy in Asia, with the region and global markets watching for what may come next.
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