In a pivotal meeting at the Asia-Pacific Economic Cooperation (Apec) summit in Lima, Peru, Chinese President Xi Jinping expressed a willingness to collaborate with incoming President Donald Trump as the political landscape shifts. This encounter marks a significant moment as Xi prepares for a new chapter in U.S.-China relations, having acknowledged the "ups and downs" of the past few years during President Joe Biden’s tenure.

The summit highlighted some notable achievements in reducing tensions between the two nations, especially concerning trade and the contentious Taiwan issue. As analysts warn of potential turbulence ahead with Trump’s return to office in two months, their concerns are fueled by the president-elect's intention to implement a staggering 60% tariff on all Chinese imports, which could trigger a new trade war.

During his first term, Trump’s relationship with China was marked by increasingly confrontational rhetoric, including calling COVID-19 the “Chinese virus.” Analysts note that under his presidency, China was designated as a “strategic competitor,” exacerbating tensions that led to troubling incidents, such as the infamous spy balloon saga and military provocations surrounding Taiwan.

At their meeting, Xi asserted that China's objective of maintaining a stable relationship with the U.S. remains unchanged. "China is ready to work with the new U.S. administration to maintain communication, expand cooperation, and manage differences," he stated, emphasizing the need for collaboration despite historical complexities.

Biden reiterated the importance of avoiding escalation into conflict, stating, "Our two countries cannot let any of this competition veer into conflict. That is our responsibility." His administration faced its share of challenges regarding China, navigating through tense moments while seeking to “responsibly manage” the rivalry.

Experts believe that China is particularly anxious about Trump's unpredictable approach to policy. Bonnie Glaser, managing director of the German Marshall Fund's Indo-Pacific Program, highlighted the need for early engagement with the incoming administration. However, with the backdrop of proposed higher tariffs, the Chinese leadership is also prepared for potential retaliation.

Despite their differing approaches, Biden and Xi have engaged in candid discussions over their terms in office. The two leaders met three times during Biden's presidency, including a crucial summit last year where both nations forged agreements on pivotal issues like combating narcotics and climate change.

The Biden administration also continued some of Trump's tariffs, imposing duties on imports like electric cars and solar panels earlier this year. Moreover, to counteract China's assertive stance in the Asia-Pacific region, Biden reinforced defense alliances, declaring a commitment to protect Taiwan should it come under threat.

As the transition of power approaches, the world watches closely to see if Xi and Trump can forge a more stable and productive relationship, or if tensions will escalate further. The decisions made in the coming months could redefine the future of global geopolitics and trade.