Trade tensions between the United States and China appeared to ease Sunday ahead of an expected meeting between President Donald Trump and Chinese leader Xi Jinping, as both sides signaled progress toward stabilizing relations between the world’s two largest economies.

Chinese negotiator Li Chenggang said the two countries had reached a “preliminary consensus” to cool the tariff conflict that had rattled global markets. Trump echoed optimism, saying, “They want to make a deal and we want to make a deal,” adding that Xi could visit Washington or his Mar-a-Lago resort.

The announcement came during the Association of Southeast Asian Nations (ASEAN) summit in Kuala Lumpur, where Trump sought to project himself as a global dealmaker. His visit also included the signing of new economic agreements with Malaysia, Thailand and Cambodia to strengthen U.S. access to critical minerals and diversify supply chains away from China.

At the summit, Thailand and Cambodia formalized a ceasefire agreement ending months of border clashes — a deal Trump claimed credit for brokering through economic pressure. Leaders hailed it as a “historic” step toward regional peace.

Trump’s Asia tour, which includes Japan and South Korea, marks a renewed push to reassert U.S. presence in a region critical to global trade and security. The president expressed confidence in securing further trade deals, including one with China, even as tensions linger over tariffs and rare earth exports.

The summit underscored Trump’s dual strategy of tough economic leverage and headline-grabbing diplomacy as he seeks to reshape America’s role in Asia.