It's interesting to see that U.S.-China summit diplomacy has been moving in recent days. According to Chinese Foreign Minister Wang Yi, who spoke to reporters on Sunday ahead of a meeting between Xi Jinping and Trump, both countries are apparently making quite thorough preparations now.

Actually, last weekend, Trump was scheduled to visit Beijing, but there are quite complex circumstances behind this. The summit is set against a backdrop of escalating geopolitical risks, including deteriorating Iran tensions involving the U.S. and Israel, and issues in Venezuela. Wang Yi stated, "High-level exchanges are already on the agenda," emphasizing the importance of both sides creating an appropriate environment and managing existing risks.

What’s noteworthy is that the U.S. and China reached a tariff truce in October last year. They agreed to reduce tariffs on each other's goods to below 50%. Prior to that, tariffs had been raised well above 100%. In other words, this upcoming Xi-Trump meeting is a crucial opportunity to further stabilize this fragile ceasefire.

At the same time, Foreign Minister Wang Yi warned that the U.S. is "building tariff barriers and pushing forward economic and technological decoupling." He metaphorically said, "This is like using firewood to put out a fire," pointing out that such confrontational approaches only risk causing burns for both sides.

Personally, U.S.-China relations under the Trump administration have entered an unpredictable territory. It’s clear that the Xi Jinping administration also strategically values this meeting, and Wang Yi’s remarks convey a sense of crisis: "Turning our backs on each other only leads to misunderstandings and miscalculations." Depending on how things develop, there could be significant ripple effects on the global economy and markets. The importance of both countries continuing dialogue at this moment might be greater than we imagine.