Oct. 26 (UPI) — President Donald Trump landed in Malaysia on Sunday and presided over the signing of a peace declaration between Thailand and Cambodia amid a flurry of news related to trade deals with Asian nations and ahead of a meeting with Chinese President Xi Jinping.
The text of the joint declaration, which seeks to end recent conflict between Thailand and Cambodia over a long-running border dispute, was released by the White House and said its signing was witnessed by Trump.
“We committed to de-escalating tensions and restoring confidence and mutually beneficial relations between the Kingdom of Cambodia and the Kingdom of Thailand,” the declaration reads.
Thailand and Cambodia said they agreed to remove heavy weapons systems and de-mine along the border, as well as release prisoners of war and refrain from disseminating “harmful rhetoric” to “foster an environment conducive to peaceful dialogue.”
Additionally, the White House announced that it had separately reached nonbinding understandings with Cambodia, Thailand and Malaysia to cooperate and expand U.S. access to rare earth minerals.
It also announced a framework for new reciprocal trade deals with each of the countries.
Thailand, for example, has agreed to eliminate tariffs on 99% of goods from the United States while the United States said it would maintain 19% tariffs imposed on the Asian country while granting tariff-free access for certain products.
The agreements included a pledge by Malaysia to invest $70 billion in the United States over the next decade while Thailand promised to buy 80 U.S. aircraft for $18.8 billion and Air Cambodia committed to working with Boeing to boost the development of its aviation industry.
The White House later announced that it had reached framework for a similar trade agreement with Vietnam, which would “provide preferential market access” for U.S. industrial and agricultural exports. The United States will maintain 20% tariffs on Vietnamese imports.
Meanwhile, Treasury Secretary Scott Bessent has been meeting with Chinese Vice Premier He Lifeng in Kuala Lumpur ahead of the Trump-Xi meeting in South Korea.
“I think we reached a substantial framework for the two leaders who will meet in Korea next Thursday,” Bessent said on ABC News’ “This Week” on Sunday.
“The president had given me maximum leverage when he threatened 100 percent tariffs if the Chinese impose their rare earth global export controls. So, I think we have averted that. So, the tariffs will be averted,” he said.
Trump also met with Brazilian President Luiz Inácio Lula da Silva on the sidelines of the ASEAN summit Sunday, stating afterward that he believed they would eventually reach a trade deal.
The news came after Trump imposed a 50% tariff on Brazil in August after former President Jair Bolsonaro, a Trump ally, was sentenced to prison for plotting a coup.
“I think we’ll make a deal with Brazil. We get along very well,” Trump said, as reported by CNN. “We have a lot of respect for your president, as you know, a lot of respect for Brazil. So we’ll see. We’ll probably work out some deals.”